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MC Qu. 127 A zero coupon bond with a face value of... A zero coupon bond with a face value of $1,000 is issued with

MC Qu. 127 A zero coupon bond with a face value of...

A zero coupon bond with a face value of $1,000 is issued with an initial price of $502.96. The bond matures in 17 years. What is the implicit interest, in dollars, for the first year of the bond's life? Use semiannual compounding.

$10.37

$12.13

$6.07

$10.91

$20.75

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