Multiple Choice
Suppose a State of New York bond will pay $1,000 ten years from now.If the going interest rate on these 10-year bonds is 5.5%,how much is the bond worth today?
A) $585.43
B) $614.70
C) $645.44
D) $677.71
E) $711.59
Correct Answer:
Verified
Correct Answer:
Verified
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