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Microhard has issued a bond with the following characteristics: Principal: $1,000 Term to maturity: 20 years Coupon rate: 8 percent Semiannual payments Calculate the price

Microhard has issued a bond with the following characteristics: Principal: $1,000 Term to maturity: 20 years Coupon rate: 8 percent Semiannual payments Calculate the price of the Microhard bond if the stated annual interest rate is: 10 percent

A) 828 B) 757 C) 516 D) 432 E) 1200

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