Question 3 (1 point)\

Saved\ What is the price of a bond if the par value is

$1000

, coupon rate is

5%

(paid semi-annually), has 20 years to maturity and the market rate is

8%

?\ 705.46\

1,197.93

\ 703.11\

1,000.00

\ 571.02

What is the price of a bond if the par value is $1000, coupon rate is 5% (paid semi-annually), has 20 years to maturity and the market rate is 8% ? 1) 705.46 2) 1,197.93 3) 703.11 4) 1,000.00 5) 571.02