A bond has a time to maturity of 12 years, a coupon rate of 5% with interest paid quarterly, a current price of $850, and a yield to maturity of 12%. What is the price of the bond today? Group of answer choices 513.53 521.53 531.53 510.53

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
Section: Chapter Questions
Problem 12P: Bond Yields and Rates of Return A 10-year, 12% semiannual coupon bond with a par value of 1,000 may...
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A bond has a time to maturity of 12 years, a coupon rate of 5% with interest paid quarterly, a current price of $850, and a yield to maturity of 12%. What is the price of the bond today? Group of answer choices 513.53 521.53 531.53 510.53
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