Final answer:
The remaining number of interest payments on the bond cannot be determined directly from the information given due to inconsistencies. Typically, you would use the present value of an annuity formula, which factors in coupon payments, yield to maturity, and the bond's price, to solve for the number of payments left.
Step-by-step explanation:
To determine the remaining number of interest payments on a bond, you can use the present value of an annuity formula, which takes into account the coupon payments, the yield to maturity, and the bond's price. However, the information provided seems to have inconsistencies, as the bond's purchase price ($933.76), coupon rate (6%), and yield to maturity (8%) do not match the references given which discuss different values or scenarios.
To accurately calculate the number of interest payments left, we need to consider the following formula for the present value of annuity:
PV = C * [(1 - (1+r)^-n) / r]
Where:
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- PV is the present value or purchase price of the bond
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- C is the annual coupon payment
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- r is the yield to maturity (interest rate)
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- n is the number of payments left
For this particular bond:
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- PV = $933.76
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- C = 6% of $1,000 = $60
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- r = 8% or 0.08
To solve for n, we would need to use the formula above and probably involve iteration or financial calculator functions as there is no algebraic solution for n. As of the given information, we can't determine n directly without more precise figures.