Question: Suppose your friend is debating purchasing a bond that has a $1,000 par value, 11 years to maturity, and a 5% annual coupon. Your friend

Suppose your friend is debating purchasing a bond that has a $1,000 par value, 11 years to maturity, and a 5% annual coupon. Your friend would like to determine the yield to maturity if the bond sells for a price of $1,178. Assume the yield to maturity remains constant over the next four years. What will the price of the bond be four years from now? $1,022.26 $1,050 $1,120.00 $1,178

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