Find market value of the bonds

Reference no: EM1373176

The Bonds of Microfood, Inc. carry a 10 percent annual coupon, have a $1,000 face value, and nature in 4 years. Bonds of equivalent risk yield 7 percent. The market value of the bonds should be [Suppose annual compounding]:
[A] $1,011.20
[B] $1,087.25
[C] $1,095.66
[D] $1,101.62
[E] $1,160.25

Reference no: EM1373176

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