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7 . A bond has face value of $ 1 0 0 0 , coupon rate of 8 % ( coupons are paid semiannually )

7. A bond has face value of $1000, coupon rate of 8%(coupons are paid semiannually), a promised yield to maturity of 9%, and it matures in 25 years. A coupon will be paid today.
What is the current bond price?
. $869.00
b. $956.45
c. $1,000.00
d. $1.023.45
e. $1,127.54
How is the asnwer 1000

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