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Please answer thoroughly. Do not use excel, only financial calculator. Using to study A 25-year, $1, ooo par value bond has an 8.5% annual payment

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Please answer thoroughly. Do not use excel, only financial calculator. Using to study

A 25-year, $1, ooo par value bond has an 8.5% annual payment coupon. The bond currently sells for $925. If the yield to maturity remains at its current rate, what will the price be 5 years from now? Do not round your intermediate calculations. a. $856.70 b. $1,000.71 c. $918.27 d. $930.11 e. $969.84

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