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Find what is the price of the bond today

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Reference no: EM132792852

Problem 1: A bond with a $1,000 face value and an 8 percent annual coupon pays interest semiannually. The bond will mature in 15 years. The nominal yield to maturity is 11 percent. What is the price of the bond today?

a. $ 784.27

b. $ 781.99

c. $1,259.38

d. $1,000.00

e. $ 739.19

Reference no: EM132792852

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