Determine the value of a bond

Reference no: EM1347613

What is the value of a bond that matures in 18 years, makes an annual coupon payment of $110, and has a par value of $1000? Assume a required rate of return of 7%, and round your answer to the nearest $10.
Answer
$1,610
$1,400
$1,290
$1,000

Reference no: EM1347613

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