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A semi-annual coupon bond has a 12% annual coupon rate, which means it will pay semi-annual coupon payments of $60 every six months until maturity.

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A semi-annual coupon bond has a 12% annual coupon rate, which means it will pay semi-annual coupon payments of $60 every six months until maturity. The bond matures in six years. Assuming a face value of $1,000, if the annual market interest rate is 8.8% APR, what is the current price of the bond? $1,083 $1,147 $847 $1.000

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