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Bond X is a premium bond making semiannual payments. The bond has a coupon rate of 8.6 percent, a YTM of 6.6 percent, and has 19 years to maturity. Bond Y is a discount bond making semiannual payments. This bond has a coupon rate of 6.6 percent, a YTM of 8.6 percent, and also has 19 years to maturity. Assume the interest rates remain unchanged and both bonds have a par value of $1,000.

What are the prices of these bonds today?

Sagot :

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