Question: if possible, please use excel 1. (ch 19) A 25 -year maturity mortgage-backed bond is issued. The bond has a par value of $10,000 and

if possible, please use excel

1. (ch 19) A 25 -year maturity mortgage-backed bond is issued. The bond has a par value of $10,000 and promises to pay an 8 percent annual coupon. At issue, bond market investors require a 12 percent interest rate on the bond. What is the initial price on the bond? (A) $588 (B) $6,835 (C) $6,863 (D) $14,270

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