A 10-year bond pays 5% on a face value of $1,000. If similar bonds are currently yielding 10%, what is the market value of the bond? Use annual analysis. Use time value of money tables in Appendix B and Appendix D.
A) $693.25
B) $386.00
C) $3,390.85
D) $1,386.09
A) $693.25
Business
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