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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.:- M949409

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