Multiple Choice
A 25-year, $10,000 strip bond was first issued at 6% compounded semi-annually. Nine years before maturity it was sold on the bond market at a price that would provide the purchaser with a yield rate of 6.8% compounded semi-annually. What was the selling price at that time?
A) $3,430
B) $3,883
C) $5,478
D) $5,874
E) $6,246
Correct Answer:
Verified
Correct Answer:
Verified
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