Multiple Choice
A bond that matures in one year has a $500 face value and a $60 coupon What is the price of the bond if the interest rate is 6 percent and the bond was purchased by the present owner for $450?
A) $103.77
B) $481.13
C) $528.30
D) $500
E) $1,000
Correct Answer:
Verified
Correct Answer:
Verified
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