Question: A 2 5 - year, $ 1 , 0 0 0 strip bond was first issued at 5 . 5 % compounded semiannually. Five years

A 25-year, $1,000 strip bond was first issued at 5.5% compounded semiannually. Five years before maturity it was sold on the bond market at a price that would provide the purchaser with a yield rate of 6.8% compounded semiannually. To the nearest dollar, what was the selling price at that time?0 $338 $263 $7160 $258 $762

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