Question 8

1. The zero coupon bonds of D&L Movers have a market price of $319.24, a face value of $1,000, and a yield to maturity of 9.17 percent. How many years is it until these bonds mature?

a ) 11.92 years b ) 12.28 years c )12.73 years d) 13.01 years e) 13.47 years