Multiple Choice
Your friend recommends that you invest in a three-year bond issued by Trimer, Inc., that will pay annual coupons of 10 percent. Similar investments today will yield 6 percent. How much should you pay for the bond? (Do not round intermediate computations. Round your final answer to the nearest dollar.)
A) $1,024
B) $979
C) $886
D) $1,107
Correct Answer:
Verified
Correct Answer:
Verified
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