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The Morrissey Company's bonds mature in seven years, have a par value of $1,000, and make an annual coupon payment of $70. The market interest rate for the bonds is 8.5%. What is the bond's price?

$923.22

$946.30

$969.96

$994.21

$1,019.06

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M946989

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