What is the value of a bond that has a par value of $1000, a coupon of - 3400

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What is the value of a bond that has a par value of $1000, a coupon of $80(annually), and matures in 11 years? Assume a required rate of return of 11%, and round your answer to the nearest $10.

a. $320

b. $500

c. $810

d. $790 

Solution Description

What is the value of a bond that has a par value of $