A bond maturing in 10 years pays $80 each year (including year 10 ) an
A bond maturing in 10 years pays $80 each year (including year 10 ) and $1,000 upon maturity.
Assuming 10 percent to be the appropriate discount rate, the present value of the bond is
A) $1,000.00. B) $877.11. C) $416.39. D) $1,785.67.
ANSWER
B
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