Question: < Question 3 of 35 > This test: 35 point(s) possible This question: 1 point(s) possible Resume later Submit test Suppose that General Motors

< Question 3 of 35 > This test: 35 point(s) possible This

< Question 3 of 35 > This test: 35 point(s) possible This question: 1 point(s) possible Resume later Submit test Suppose that General Motors Acceptance Corporation issued a bond with 10 years until maturity, a face value of $1,000, and a coupon rate of 7.1% (annual payments). The yield to maturity on this bond when it was issued was 6.1%. What was the price of this bond when it was issued? When it was issued, the price of the bond was $1,001.479. (Round to the nearest cent.)

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