Multiple Choice
Suppose a State of New Mexico bond will pay $1,000 eight years from now.If the going interest rate on these 8-year bonds is 5.5%, how much is the bond worth today?
A) $651.60
B) $684.18
C) $718.39
D) $754.31
E) $792.02
Correct Answer:
Verified
Correct Answer:
Verified
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