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Four years ago, you purchased a 20-year, 6.55 percent annual coupon bond at a price of $1,096.15. The bond's face value is $1,000. Just after
Four years ago, you purchased a 20-year, 6.55 percent annual coupon bond at a price of $1,096.15. The bond's face value is $1,000. Just after purchasing the bond, its yield to maturity decreased to 3.97 percent and has remained at that level. Calculate the price of your bond today.
$1,093.72
$1,301.30
$1,351.56
$1,254.06
$1,177.90
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