A new one-year bond with a face value of $1,000 was issued that pays a coupon rate of 6%.What is the market interest rate if the price of the bond is
a)$1,029.15
b)$1,000
c)$972.5

Question

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The Answer of A new one-year bond with a face value of $1,000 was issued that pays a coupon rate of 6%.What is the market interest rate if the price of the bond is
a)$1,029.15
b)$1,000
c)$972.5

A New One-Year Bond with a Face Value of $1,000