A 10-year bond, with a par value equaling $1,000, pays 7% annually. If similar bonds are currently yielding 6% annually, what is the market value of the bond? Use semiannual analysis. Use time value of money tables in Appendix B and Appendix D.
A) $700.00
B) $927.50
C) $1,074.70
D) $1,520.70
C) $1,074.70
All else being equal, when the yield to maturity is less than the coupon/face rate, the bond will be priced above par:
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