A 12-year bond has a 9 percent annual coupon, a yield to maturity of 8 percent, and a face value of $1,000. What is the price of the bond?
a. $1,469
b. $1,000
c. $ 928
d. $1,075
e. $1,957
Answer: D
A 12-year bond has a 9 percent annual coupon, a yield to maturity of 8 percent, and a face value of $1,000. What is the price of the bond?
a. $1,469
b. $1,000
c. $ 928
d. $1,075
e. $1,957
Answer: D
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