$100,000 Face Value Strip Bonds Were Sold at 24% of Face

Multiple Choice

$100,000 face value strip bonds were sold at 24% of face value to yield 7.14% compounded monthly. Calculate the maturity date to the nearest day.

A) 21 years and 15 days
B) 20 years and 250 days
C) 20 years and 17 days
D) 19 years and 64 days
E) 19 years and 1 day