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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                       $1,000                      $1,000

Annual Coupon Payment      $120                          $130

Payment Frequency Semiannual Annual

Years to maturity                   15                          15

Price                                   $950.39                     ?

Question 1: What is the price of bond Y?

A.$925.88

B.$973.44

C.$940.92

D.$956.95

E.$1,007.15

F.$989.75

Reference no: EM132467323

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