A 55 percent 1000 bond matures in 7 years pays interest
A 5.5 percent $1,000 bond matures in 7 years, pays interest semi-annually, and has a yield to maturity of 6.23 percent. What is the current market price of the bond?
a) $945.08
b) $947.21
c) $959.09
d) $959.60
e) $962.40
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