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| rev | Admin | (Created page with "'''Solution: B''' Because 40/1200 is greater than 0.03, for early redemption the earliest redemption should be evaluated. If redeemed after 15 years, the price is <math display = "block">40a_{\overline{40}|0.03} + 1200/1.03^{30} = 1278.40</math>. If the bond is redeemed at maturity, the price is <math display="block">40a_{\overline{40}|0.03} + 1100/1.03^{40} = 1261.80</math>. The smallest value should be selected, which is 1261.80. (When working with callable bonds, the...") | Nov 19'23 at 18:00 | +622 |