Chocolate and Rum, Inc. offers a 7% coupon bond with semiannual payments and a yield to maturity of 7.73%. The bonds mature in 9 years. What is the
Chocolate and Rum, Inc. offers a 7% coupon bond with semiannual payments and a yield to maturity of 7.73%. The bonds mature in 9 years. What is the market price of a $1,000 face value bond?
Select one:
A. $953.28 Correct
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C. $1,108.16
D. $1,401.26
E. $1,401.86
why the right answer is not D