Oil Wells offers 5.65 percent coupon bonds with semiannual payments and a yield to maturity of 6.94 percent. The bonds mature in seven years. What is the market price per bond if the face value is $1,000?
A) $949.70
B) $929.42
C) $936.48
D) $902.60
E) $913.48
Correct Answer:
Verified
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