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QUESTION
A ten-year bond, with par value equals $1000, pays 10 percent annually.If similar bonds are currently yielding 6 percent annually, what is the market...
A ten-year bond, with par value equals $1000, pays 10 percent annually.If similar bonds are currently yielding 6 percent annually, what is the market value of the bond?Use semi-annual analysis.
a. $1000.00
b. $1127.50
c.$1297.85
d. $2549.85
answer is c
Question is how to calculate this answer?
