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What was the dollar price of the bond what is the bonds

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Reference no: EM13395390

Suppose that the financial Management Corporation's $1,000 par-value bond had a 5.700% coupon, matured on May 15, 2017, had a current price quote of 97.708, and had a yield to maturity (YTM) of 6.034%.

Given this information, answer the following questions.

a) What was the dollar price of the bond?

b) What is the bond's current yield?

c) Is the bond selling at par, at a discount, or premium? Why?

d) Compare the bonds current yield calculated in part b to it's YTM and explain why they differ.

Reference no: EM13395390

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