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You intend to purchase a 17 -year , $1,000 face value bond that pays interest...

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Accounting

You intend to purchase a 17 -year , $1,000 face value bond that pays interest of $48 every 6 months . If your nominal annual required rate of return is 9.7 percent with semiannual compounding , how much should you be willing to pay for this bond ?

A. 891.75

B. 1,091.75

C. 1,291.75

D. 991.75

E. 1,191.75

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