What is the bonds price
Course:- Financial Management
Reference No.:- EM13942932

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ABC Company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon interest payment of $65. The market requires an interest rate of 7.5% on these bonds. What is the bond's price?

1. $941.43

2. $865.13

3. $1,097.69

4. $1,069.79

5. $762.80

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