You have just been offered a $1,000 par value bond for $1,259.29. The coupon rate is 12 percent, payable annually, and annual interest rates on new issues of the same degree of risk are 8.9 percent. You want to know how many more interest payments you will receive, but the party selling the bond cannot remember. Can you determine how many interest payments remain? O 16 O 15 18 O 14 O 17

You have just been offered a $1,000 par value bond for $1,259.29. The coupon rate is 12 percent, payable annually, and annual interest rates on new issues of the same degree of risk are 8.9 percent. You want to know how many more interest payments you will receive, but the party selling the bond cannot remember. Can you determine how many interest payments remain? 16 15 18 14 17