Mur corps bonds mature in 8 years with a par value of 1000
Mur Corps bonds mature in 8 years, with a par value of $1,000, and an annual coupon rate of 6.5% The market requires an interest rate of 8.2% on these bonds. What is the bond's price?
A) 996.79
B) 925.62
C) 948.76
D)972.48
E) 903.04
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