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Grasshopper Inc issued 20 years, noncallable, 7.8% annual coupon bonds at their par value of $1,000 one year ago. Today, the market interest on these bonds is 5.5%. What is the current price of the bonds, given that they now have 19 years to maturity?

  • Finance -

    multiple choice answers to the question
    a. 1,114.94
    b. 1,165.62
    c. 1.507.70
    d. 1.266.98
    e. 1,064.26
    what is the correct answer

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