67. A bond with 10 years to maturity has a face value of $1,000. The bond pays an 8 percent semiannual coupon, and the bond has a 9 percent nominal yield to maturity. What is the price of the bond today? a. $908.71 b. $934.96 c. $935.82 d. $952.37 e. $960.44

67. A bond with 10 years to maturity has a face value of $1,000. The bond pays an 8 percent semiannual coupon, and the bond has a 9 percent nominal yield to maturity. What is the price of the bond today? a. $908.71 b. $934.96 c. $935.82 d. $952.37 e. $960.44

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

67. A bond with 10 years to maturity has a face value of $1,000. The bond
pays an 8 percent semiannual coupon, and the bond has a 9 percent
nominal yield to maturity. What is the price of the bond today?
a. $908.71
b. $934.96
c. $935.82
d. $952.37
e. $960.44

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