# Question on PRICE and YIELD function in spreadsheet

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Please see attached examples from my textbook. I don't have the PRICE and YIELD functions on my spreadsheet, so how would I solve similar problems to these? Thanks.

Suppose we have a bond with 22 years to maturity, a coupon rate of 8 percent, and a yield to maturity

of 9 percent. If the bond makes semiannual payments,what is its price today?

Settlement date: 1/1/2000

Maturity date: 1/1/2022

Annual coupon rate: 0.08

Yield to maturity: 0.09

Face value (% of par): 100

Coupons per year: 2

Bond price (% of par): 90.49

My textbook says the formula entered for the bond price is =PRICE(b7,b8,b9,b10,b11,b12)

I don't understand the PRICE function--it is not on my excel spreadsheet.

Is there another way to solve this on a spreadsheet?

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##### Solution Summary

The price and yield functions on spreadsheets are examined. The formula entered for the bond price are given.

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