A bond has a 5% coupon and has 8 years to maturity. If current bonds yield 6%, what is it worth? 1. 881 2. 938 3. 1000 4. 1091 5. 1139

A bond has a 5% coupon and has 8 years to maturity. If current bonds yield 6%, what is it worth?

1. 881   2. 938   3. 1000   4. 1091   5. 1139

Answer
938