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ABC Corp. has issued a $1,000 par value, 30-year bond at a coupon rate of 4.22%,...

ABC Corp. has issued a $1,000 par value, 30-year bond at a coupon rate of 4.22%, to be paid semiannually. The yield to maturities on similar bonds are 8.34%, compounded semi-annually.

What is the current bond price?

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Answer #1
Par value $ 1,000.00
Coupon rate 4.22%
Coupon payment per period $        21.10
YTM 8.34%
Years to maturity                  30
Price $     548.57

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