Question
Summit Investment Consulting is considering purchasing $1,450,000 in face value of Gianna Enterprises' 15-year, 3.5% bonds currently offered at a yield to maturity of 3.85%.
Summit Investment Consulting is considering purchasing $1,450,000 in face value of Gianna Enterprises' 15-year, 3.5% bonds currently offered at a yield to maturity of 3.85%. The cost of the bonds is closest to:
| A. | $1,508,450. | |
| B. | $1,392,579. | |
| C. | $1,360,622 |
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Focus On Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Melissa Hart
7th Edition
1265521972, 978-1265521974
