Red Mountain,Inc.bonds have a face value of $1,000.The bonds carry a 7 percent coupon,pay interest semiannually,and mature in 13.5 years.What is the current price of these bonds if the yield to maturity is 6.82 percent?
A) $989.50
B) $994.56
C) $1,015.72
D) $1,018.27
E) $1,020.00
Correct Answer:
Verified
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