Sandy buys a 10-year commonwealth year bond with a face value of $100 and a...
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Finance
Sandy buys a 10-year commonwealth year bond with a face value of $100 and a coupon of 6% pa (paid semi-annually) at a yield of 6% pa, when it is initially issued. She sells it after 1 year (coupon just paid) at a yield of 7% pa. What is the selling price?
| A. | $97.94 | |
| B. | $100 | |
| C. | $93.41 | |
| D. | $95.83 |
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