Multiple Choice
Five years ago Fairfield Farms Inc.issued 20 year semi-annual coupon bonds with a 9% annual coupon rate and a $1,000 face value.If the bonds currently carry a yield to maturity of 6%,what is the current price of a bond?
A) $1,346.72
B) $1,294.01
C) $1,344.10
D) $1,291.37
Correct Answer:
Verified
Correct Answer:
Verified
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