Jason Holds a Bond with a Par Value of $1,000

True/False

Jason holds a bond with a par value of $1,000 issued by the Asbury Corporation that will mature in seven years. The coupon rate on the bond is 7 percent. He bought the bond for $900. Assuming Asbury lives up to its financial obligations and that he doesn't trade the bond, Jason can expect to receive $70 in interest from Asbury over the next year.