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Andrews wants to retire the following bond early: Series - 10.4S2030 Face - $4,695,774 Yield -...

Andrews wants to retire the following bond early: Series - 10.4S2030 Face - $4,695,774 Yield - 12.7% Close - $81.95 Assuming no brokerage fees, calculate the amount of cash needed to retire the bond. $4,695,774 $847,620 $3,848,154

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Answer #1
Answer: $3,848,154
Calculation and explanation:
Cash needed = 4695774*81.95/100 = $ 38,48,187

Marginal difference between solution and option is due to difference in approximation.

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