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FIN3100 issued bonds with a 15-year maturity two year ago. The bonds have a 7% coupon, make one payment per year, and sold at their
FIN3100 issued bonds with a 15-year maturity two year ago. The bonds have a 7% coupon, make one payment per year, and sold at their $1,000 par value. Market rate at the time was 7%. Now, two year later, the market rate has declined from 7% to 4%. At what price should FIN3100's bonds now sell? O $1,897.21 o $1,727.13 o $1,316.89 o $1,299.57 O $1,327.53
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