Question

Two years ago, you purchased a $1,000 par value corporate bond with a coupon interest rate of 6.5 percent. Today, comparable bonds are paying 5.75 percent. What is the approximate dollar price for which you could sell your bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Answer 1

you could sell is for $10,000

Explanation:

because it increased in value you could sell it for more