A 20-year bond pays 12% on a face value of $1,000. If similar bonds are currently yielding 9%, What is the market value of the bond? Use annual analysis.
A) over $1,000B) under $1,000
C) over $1,200
D) not enough information given to tell
A 20-year bond pays 12% on a face value of $1,000. If similar bonds are currently yielding 9%, What is the market value of the bond? Use annual analysis.
B) under $1,000
C) over $1,200
D) not enough information given to tell