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What is the price of bond Y

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Question - Bonds X and Y are identical, including the risk class. The only difference between A and B is in the coupon payment as shown below.

 

Bond X

Bond Y

Face value

$1,000

$1,000

Annual Coupon Payment

$120

$130

Payment Frequency

Semiannual

Annual

Years to maturity

15

15

Price

$966.49

?

Required - What is the price of bond Y? Please explain?

A. $1,007.15

B. $973.44

C. $989.75

D. $925.88

E. $940.92

F. $956.95

Reference no: EM132489130

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