Buddy bought a bond last year for $10,000. His bond pays $1,000 a year. This year a bond that sells for $10,000 pays $900 a year. If Buddy were to sell his (old) bond, its price would be approximately
A) $11,111.
B) $10,120.
C) $9,000.
D) $12,000.
E) $9,500.
A
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What will be an ideal response?
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