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Monrrow Company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon interest payment of $65. The market requires an interest rate of 7.7% on these bonds. What is the bond's price?

  • finance -

    multiple choice answers
    a. 865.13
    b. 1,097.69
    c. 1,069.79
    d. 930.25
    e. 762.80
    what is the correct answer

  • finance -

    865.13

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