The bond matures in 5 years and pays interest annually the


Demetrius wants to buy a $1,000 face value bond that currently has a yield to maturity of 8.61 percent. The bond matures in 5 years and pays interest annually. The coupon rate is 8.5 percent. What is the current price of this bond?

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Finance Basics: The bond matures in 5 years and pays interest annually the
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