A $1,000 face value bond currently has a yield to maturity of 8.22 percent.The bond matures in five years and pays interest semiannually.The coupon rate is7.5 percent.What is the current price of this bond?
A) $948.01
B) $989.60
C) $1,005.26
D) $970.96
E) $1,010.13
Correct Answer:
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