Question $42$

A $20-$year bond pays $6\%$ annually $($annual coupon rate $=6\%)$ on a face value of $$1,000.$ If the yield to maturity for similar bonds are currently yielding $6\%,$ what is the market value of the bond?

$$1,345\mathrm{.}32$

$$901\mathrm{.}24$

$$803\mathrm{.}64$

$$1,000\mathrm{.}00$