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How do find what is the price of bond y

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Bonds X and Y are identical, including the risk class. The only difference between A and B is in the coupon payment as shown below

                                     Bond X                Bond Y

Face value                   $1000                $1000
Annual coupon payment     $120              $130
payment frequency Semiannual Annual
years to maturity                15                15
price                           $890.04                  ????

Problem 1: What is the price of bond Y?

A.$973.44
B.$989.75
C.$940.92
D.$925.88
E.$1,007.15
F.$956.95

Reference no: EM132736875

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