Question: A bond with a $1,000 par value has an 7.5% coupon rate. It will mature in 5 years, and coupon payments are made semi-annually. Present

A bond with a $1,000 par value has an 7.5% coupon rate. It will mature in 5 years, and coupon payments are made semi-annually. Present annual yields on similar bonds are 8.5%, what should the current price be; 959.95 950.22 950.01 949.93

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