Question

Bond maturity 4 Years initial interest rate = 4.00% Coupon Rate 3.00% Annual Coupon Face Value...

Bond maturity 4 Years initial interest rate = 4.00%
Coupon Rate 3.00% Annual Coupon
Face Value $1,000.00
Dollar Coupons $30.00

Given the information in the table, what is the price effect in year 3
if the interest rate changes from 4.00% to 6.00 %?

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Answer #1

in year the bond maturity left is 1 year and coupon =30 and interest(YTM)=4% and face value =1000

the price of bond is

Price=(coupon*(1-((1+i)^-n))/i)+(issue price*(1+i)^-n)
Coupon=maturity value*coupon rate
=30
i=6%
n=1 years
issue price=1000
substituting in formuale we get it as 971.70

If the interest rate is 4% then value is

Coupon=maturity value*coupon rate=30
i=4%
n=1 years
issue price=1000

=990.38

so there is decrease in price

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