Acme Inc.just issued a bond with a $10,000 face value and a coupon rate of 7%.If the bond has a life of 30 years,pays semi-annual coupons,and the yield to maturity is 9%,what will the bond sell for?
A) $7,936.20
B) $4,349.49
C) $7,945.27
D) $10,000
E) $7,904.45
Correct Answer:
Verified
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