What would you be willing to pay for a $1,000 bond paying $70 interest at the end of each year and m

What would you be willing to pay for a $1,000 bond paying $70 interest at the end of each year and maturing in 25 years if you wanted the bond to yield an annual interest rate of 7 percent? a. $1,100 b. $958 c. $1,000 d. $979

 

Already bond is 1000rs and giving 70 return i,e 7℅ intrest if again he want something which gives 7℅ yield.So no change in coupan and yield so he wont spend more or less on bond that remains 1000