Assume that you are considering the purchase of a 15-year bond
with an annual coupon rate of 9.5%. The bond has face value of
$1,000 and makes semiannual interest payments. If you require a 8%
nominal yield to maturity on this investment, what is the maximum
price you should be willing to pay for the bond?
Group of answer choices
925.28
961.57
1083.90
1,129.69
1040.72
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