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The Seaside Inn has bonds outstanding with a par value of $1,000 each and a 4.30 percent coupon. The bonds mature in 7.5 years and
The Seaside Inn has bonds outstanding with a par value of $1,000 each and a 4.30 percent coupon. The bonds mature in 7.5 years and pay interest semiannually. What is the current value of each of these bonds if the yield to maturity is 5.0 percent?
$1,004.36
$938.40
$956.67
$988.55
$1,009.47
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