What will the bonds sell for today

Reference no: EM13267404

Giant Electronics is issuing 20-year bonds that will pay coupons semiannually. The coupon rate on this bond is 7.8 percent. If the market rate for such bonds is 7 percent, what will the bonds sell for today?

a.$1085

b.$861

c.$1037

d.$923

Reference no: EM13267404

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