Question
The Morrissey Companys bonds mature in 6 years, have a par value of $1,000, and make an annual coupon payment of $100. The market interest
The Morrissey Companys bonds mature in 6 years, have a par value of $1,000, and make an annual coupon payment of $100. The market interest rate for the bonds is 6%. What is the bonds price?
| A. | 1000 | |
| B. | 1196.69 | |
| C. | 1096.96 | |
| D. | 1316.36 |
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Cornett, Otgo Erhemjamts
10th Edition
1260013820, 978-1260013825
