A bond has a coupon rate of 6%, a face value of $1,000, and a maturity of 12 years. If the yield to maturity is 7%. What is the market price of the bond?     916.16     919.71     920.57

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
Section: Chapter Questions
Problem 12P: Bond Yields and Rates of Return A 10-year, 12% semiannual coupon bond with a par value of 1,000 may...
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A bond has a coupon rate of 6%, a face value of $1,000, and a maturity of 12 years. If the yield to maturity is 7%. What is the market price of the bond?

   

916.16

   

919.71

   

920.57

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