Apple issued 10-year bonds three years ago at a coupon rate of 3%. The bonds make semiannual payments (next payment in 6

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answerhappygod
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Apple issued 10-year bonds three years ago at a coupon rate of 3%. The bonds make semiannual payments (next payment in 6

Post by answerhappygod »

Apple issued 10-year bonds three years ago at a coupon
rate of 3%. The bonds make semiannual payments (next payment in 6
months). If the YTM on these bonds is 2.8% p.a., what is the
current value of this bond?
Select one:
a.$1,023
b.$1,015
c.$1,013
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