The Country Inn has bonds outstanding with a par value of $1,000 each and a 6.6 percent coupon.The bonds mature in 7.5 years and pay interest semiannually.What is the current value of each of these bonds if the yield to maturity is 6.8 percent?
A) $988.40
B) $1,003.29
C) $1,005.88
D) $1,008.36
E) $1,009.47
Correct Answer:
Verified
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