Financial Technology Center - School of Business - Central Connecticut State University
  A 12-year bond has a 9 percent annual coupon, a yield to maturity of
8 percent, and a face value of $1,000. What is the price of the bond?


Inputs:

N = 12 * 1 .
I = 8 / 1 .
PMT = ( Par Value * The coupon rate) / F = ( 1000 * 0.09 ) / 1 = 90.
FV= 1000 .

Financial calculator solution

Output:

Price= PV= $1,075.36