Fixed Income Q39

39A bond offering an annual coupon rate of 6%, paying interest semiannually, matures in 6 years. Given that the market discount rate is 4%, which of the following is most likely to be the price of the bond?

Option : C
Explanation : PMT = 3, FV = 100, r = 2%, N = 12, CPT, PV = $110.5.

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