Question: Exxon issues 2 0 - year bonds with a face value of $ 1 , 0 0 0 at an annual coupon rate of 5

Exxon issues 20-year bonds with a face value of $1,000 at an annual coupon rate of 5% paid semi-annually. What will be the price of bonds next year if the yield is 3%? A. $748.97 B. $756.51 C. $1,000.00 D. $1,288.05 E. $1,299.16

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