Consider a bond with a Par Value of $$1,000.$ It pays a coupon of $7\%$ and the coupon is paid monthly. It matures in $2$

years. Calculate the NPV if the yield on the bond is $5\%$ and the price of the bond is $$1,100.$

$$37\mathrm{.}99$

$-$$$62\mathrm{.}01$

$$1,037\mathrm{.}99$

None of the answers are correct