A zero-coupon bond has a yield to maturity of 11% and a par value of $1,000.If the bond matures in 27 years, the bond should sell for a price of _______ today.
A) $59.74
B) $501.87
C) $513.16
D) $483.49 $1,000/(1.11) 27 = $59.74.
Correct Answer:
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