Suppose that General Motors Acceptance Corporation issued a bond with 10 years until​ maturity, a face value of $1,000​,

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answerhappygod
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Suppose that General Motors Acceptance Corporation issued a bond with 10 years until​ maturity, a face value of $1,000​,

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Suppose that General Motors Acceptance Corporation issued a bond
with 10 years until​ maturity, a face value of
$1,000​,
and a coupon rate of
7.7%
​(annual payments). The yield to maturity on this bond when it
was issued was
5.7%.
Assuming the yield to maturity remains​ constant, what is
the price of the bond immediately after it makes its first
coupon​ payment?
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