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Jack is planning to buy a 5-year bond with semi-annual coupons and a coupon rate of 7.7 percent p.a. The face value is $1,000. Given

Jack is planning to buy a 5-year bond with semi-annual coupons and a coupon rate of 7.7 percent p.a. The face value is $1,000. Given an annual yield of 10.5 percent, what is the bonds current price? (to the nearest cent) a. $1112.69 b. $893.20 c. $607.00 d. $895.20

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