Multiple Choice
An investor purchases a 20-year,$1,000 par value bond that pays semiannual interest of $40.If the semiannual market rate of interest is 5%,what is the current market value of the bond?
A) $ 828.
B) $1,686.
C) $1,000.
D) $ 893.
Correct Answer:
Verified
Correct Answer:
Verified
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