Bond price: Briar Corp is issuing a 10-year bond with a coupon rate of 7 percent. The interest rate for similar bonds is currently 9 percent. Assuming annual payments, what is the present value of the bond? (Round to the nearest dollar.)
$990
$872
$1,066
$945
3 answers
990
872
872 is the right answer, not 990.
0 answers