Rogoff Co'S 15-Year Bonds Have an Annual Coupon Rate of 9

question 97

Multiple Choice

Rogoff Co.'s 15-year bonds have an annual coupon rate of 9.5%.Each bond has face value of $1,000 and makes semiannual interest payments.If you require an 11.0% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond?

• A) $891.00
• B) $913.27
• C) $936.10
• D) $959.51
• E) $983.49

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