Question: What is the price of a 5 year bond that has a coupon rate of 7% with each coupon paid semi-annually? The current market rate

What is the price of a 5 year bond that has a coupon rate of 7% with each coupon paid semi-annually? The current market rate (Yield to maturity) is 6%. Assume a par value of $1,000.

A.$1,000

B.$1,043

C.$958

D.$901

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