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Homework: HW6 - Chapter 6 Homework Save Score: 0 of 10 pts 8 of 10 (2 complete) HW Score: 15%, 15 of 100 pts P

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Homework: HW6 - Chapter 6 Homework Save Score: 0 of 10 pts 8 of 10 (2 complete) HW Score: 15%, 15 of 100 pts P 6-18 (similar to) Question Help Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a face value of $1,000, and a coupon rate of 7.7% (annual payments). The yield to maturity on this bond when it was issued was 6.2%. What was the price of this bond when it was issued? When it was issued, the price of the bond was $ (Round to the nearest cent.)

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