Multiple Choice
Bond price: Kevin Oh is planning to sell a bond that he owns. This bond has four years to maturity and pays a coupon of 10 percent on a semiannual basis. Similar bonds in the current market will yield 12 percent. What will be the price that he will get for his bond? (Round to the nearest dollar.)
A) $1,044
B) $938
C) $970
D) $1,102
Correct Answer:
Verified
Correct Answer:
Verified
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