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Ryngaert Inc

Question 45

Multiple Choice

Ryngaert Inc.recently issued noncallable bonds that mature in 15 years.They have a par value of $1,000 and an annual coupon of 5.7%.If the current market interest rate is 7.0%,at what price should the bonds sell?


A) $817.12
B) $838.07
C) $859.56
D) $881.60
E) $903.64

Correct Answer:

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