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3. Yesterday, you bought a 7 percent semiannual coupon bond with 11 years to maturity, at a price of $1,088.09. The bond's face value is

3.

Yesterday, you bought a 7 percent semiannual coupon bond with 11 years to maturity, at a price of $1,088.09. The bond's face value is $1,000. Assuming the yield to maturity of the bond remains the same throughout your investment horizon, how much can you sell the bond for three years from today?

$1,037.41

$996.88

$1,069.35

$1,029.84

$1,077.21

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