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Kramerica Industries issued 10-year, $1,000 par value bonds with a 7.6% annual coupon rate four years ago. Now, four years later, similar bonds are yielding
Kramerica Industries issued 10-year, $1,000 par value bonds with a 7.6% annual coupon rate four years ago. Now, four years later, similar bonds are yielding investors a market rate of 5.6%. How much are Kramericas bonds currently selling for? Assume that coupon payments are made semi-annually. Group of answer choices
$932.11
$1,070.79
$905.05
$1,100.74
Please show all work using BA 2 plus or Equations
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