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How much did willow plc raise from the bond issue

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Reference no: EM132882920

Exactly one year ago, Willow Plc issued 7 million 9% coupon bonds (each bond had a face value of £100) with a maturity of 5 years.

Problem a) If the bonds was issued at a fair price and the yield to maturity on the bonds was 8%, how much did Willow Plc raise from the bond issue?

Problem b) Today the bond yield to maturity is 8.5%. What is the duration of the bond today?

Reference no: EM132882920

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