Answers
As Semi-annual compounding,
Coupon Rate = 2.1%/2 = 1.05%
YTM = 16.94%/2 = 8.47%
Years = 20*2 = 40
Bond Price = Interest * PVIFA(YTM, Years) + Par Value * PVIF(YTM, Years)
= (1000*1.05%) * PVIFA(8.47%,40) + 1000 * PVIF(8.47%,40)
= 10.50 * 11.34957 + 1000 * 0.03869
= 119.1705 + 38.69
Bond Price = $ 157.86
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