Question: How much should you pay for a $1,000 par value bond with 8% coupon, semi-annual interest payments, and 5 years to maturity if the interest

How much should you pay for a $1,000 par value bond with 8% coupon, semi-annual interest payments, and 5 years to maturity if the interest rate is 6%? (Note: Semi-annual interest payments)

A. $696.74
B. $1,075.82
C. $1,082.00
D. $1,085.30

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