Bonds are trading today for a price of $1, 222.84. The bond pays annual coupons with...
Bonds are trading today for a price of $1, 222.84. The bond pays annual coupons with a coupon rate of 6.5% and the next coupon is due in one year. The bond has a yield to maturity of 4.93%. How many years are will it be until the bond matures?
Homework Answers
The number of years are calculated using the NPER function:-
=NPER(rate,pmt,pv,fv)
=NPER(4.93%,6.5%*1000,-1222.84,1000)
=25.00
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