The bonds of Vandalay Inc.pay annual coupons at the rate of 7%.They mature in 15 years with a face value of $1,000.What is their price if their yield is 6%?
A) $731.70
B) $908.92
C) $1,000
D) $1,097.12
E) $1,279.83
Correct Answer:
Verified
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