Question: A bond has 9% coupon rate, a $1,000 face value, pays interest semi-annually, matures in 12 years, and has a yield to maturity of 7.75%.

A bond has 9% coupon rate, a $1,000 face value, pays

A bond has 9% coupon rate, a $1,000 face value, pays interest semi-annually, matures in 12 years, and has a yield to maturity of 7.75%. What is the current market price of the bond? 1) $989.73 2) $1,057.86 3) $1,062.49 4) $1,096.52

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