Question: 3 . A 2 0 - year, 1 0 % annual - pay bond has a par value of $ 1 , 0 0 0

3. A 20-year, 10% annual-pay bond has a par value of $1,000. What is the price of the bond if it has a yield-to-maturity of 15%?
A. $685.14.
B. $687.03.
C. $828.39.

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