Условие:
Following the Napoleonic Wars, the British government restructured its debt by issuing perpetual bonds called consols. These bonds pay a periodic coupon and have no maturity, so the face value is never reimbursed.\nCalculate the price of such a bond, assuming that the face value is GBP1000, the annual coupon rate is 2.5% (annual payments) and the appropriate discount rate is 12%. Assume that the first coupon will be paid in one year from now.\nOne year has passed and the first coupon has just been paid. What is the new price of the consol? Assuming rates are unchanged.
