# Question on PRICE and YIELD function in spreadsheet

Not what you're looking for?

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?

##### Purchase this Solution

##### Solution Summary

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

##### Purchase this Solution

##### Free BrainMass Quizzes

##### SWOT

This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.

##### Transformational Leadership

This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.

##### Basic Social Media Concepts

The quiz will test your knowledge on basic social media concepts.

##### Operations Management

This quiz tests a student's knowledge about Operations Management

##### Introduction to Finance

This quiz test introductory finance topics.