What is the market price of a $400,000, ten-year, 5% bond issue sold to yield an effective rate of 3% if interest is paid semiannually? (Use spreadsheet software or a financial calculator to calculate your answer. Do not round any intermediary calculations the nearest dollar) and round your final answer.

A). $322,783
B). $468,675
C). $468,242
D). $471,250

Answer rating: 100% (QA)

Issue price of bonds Present v... View the full answer