A bond has 8 years to maturity,a 7 percent coupon,a $1,000 face value,and pays interest semiannually.What is the bond's current price if the yield to maturity is 6.91 percent?
A) $799.32
B) $848.16
C) $917.92
D) $1,005.46
E) $1,009.73
Correct Answer:
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