Use of Financial Calculator TI BA II Plus Required

question 20

Multiple Choice

Use of Financial Calculator TI BA II Plus required. A Government of Canada $100 000 three percent bond, due in exactly 12 years, is rated AAA. It has a current price of $93 286. If a BB-rated bond carries a 2.3 percent premium, what would be the price for the exact same terms for this BB bond?

• A)$85 079
• B)$72 345
• C)$75 421
• D)$74 668

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