What will be bonds price in year

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Reference no: EM13937358

In 2010, Apple issued $1000 face bonds with a 7% semi-annual coupon. The bonds mature in 2030. Exactly 5 years later, a company financially similar to Apple is preparing to issue 20 year $1000 face bonds with a 6.5% semi-annual coupon. What will be Apple bonds' price in year 2015?

A. $1087.87

B. $1047.45

C. $1465.50

D. $908.92

E. $991.95

Reference no: EM13937358

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