A company has bonds on the market with 13 years to maturity, a YTM of 7.6 percent, and a current price of $1,000. The bonds make semiannual payments and have a face value of $1,000. What is the dollar value of each coupon

$38.00

Explanation:

The dollar value of each coupon of each coupon is also known as the PMT of the Bond and this is made twice in a year for this question.

The Bond elements can now be established as :

N = 13 x 2 = 26

YTM = 7.6 %

PV = ($1,000)

FV = $1,000

P/YR = 2

PMT = ?

Using a Financial calculator the PMT is $38.00

Thus, the dollar value of each coupon is $38.00

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