Question

You purchased a 15-year bond 12 years ago at a yield to maturity of 9.16%. The...

You purchased a 15-year bond 12 years ago at a yield to maturity of 9.16%. The bond has a face value of $1,000 and a coupon rate of 9.00%. If the investors’ required rate of return on this bond has stayed the same for 12 years, what is the price of the bond today?

$995.88

$973.05

$965.31

$1,020.97

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