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Colby & Company bonds pay semiannual interest of $50. They mature in 15 years and have a par value of $1,000. The market rate of

Colby & Company bonds pay semiannual interest of $50. They mature in 15 years and have a par value of $1,000. The market rate of interest is 8%. The market value of Colby bonds is [1 point]: (a) $827 (b) $1000 (c) $1173 (d) $743

What do you plug into a financial calculator to get the answer, the answer is (c) $1173

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