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GMC bonds are issued with a 15-year maturity, a 7.25% semiannual coupon, and a par value of $1,000. With an APR interest rate at 5.00%,
GMC bonds are issued with a 15-year maturity, a 7.25% semiannual coupon, and a par value of $1,000. With an APR interest rate at 5.00%, the price of the bond is:
Select one:
a. $1588.12
b. $788.63
c. $857.23
d. $1235.47
e. $1233.54
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