What is the current price of the bonds

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Reference no: EM13256396

Wachowicz Corporation issued 15-year, noncallable, 7.5% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest rate on these bonds is 5.5%. What is the current price of the bonds, given that they now have 14 years to maturity?

$1,077.01

$1,104.62

$1,132.95

$1,162.00

$1,191.79

Reference no: EM13256396

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