Question: 7-5 A bond with a $1,000 face value and an 8 percent annual coupon pays interest semiannually. The bond will mature in 15 years. The

7-5 7-5 A bond with a $1,000 face value and an 8 percent

A bond with a $1,000 face value and an 8 percent annual coupon pays interest semiannually. The bond will mature in 15 years. The yield to maturity is 11 percent. The price of the bond should be: Do no round intermediate computations. Round the final answer to two decimal places. $784.27 $1,000.00 $1,259.38 $781.99

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