Jackson corporation’s bonds have 12 years remaining to maturity. interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 8%. the bonds have a yield to maturity of 9%. what is the current market price of these bonds?

$928.39

Explanation:

In this question, we use the present value formula which is shown in the spreadsheet.  

The NPER represents the time period.

Given that,  

Future value = $1,000

Rate of interest = 9%

NPER = 12 years

PMT = $1,000 × 8% = $80

The formula is shown below:

= PV(Rate;NPER;PMT;FV;type)

So, after solving this, the answer would be $928.39

answer; i believe that the correct answer is (d)when the products are consumed or

answer; limited pay life;