A $20,000 bond is purchased that matures in 10 years. The bond is redeemable at par. This bond has coupons payable quarterly and the quarterly coupon amount is $400. What is the current market value of the bond if 10 year bonds are being priced today to yield j2 = 6%? (Answer to the nearest dollar)

Answer rating: 100% (QA)

To find the current market value of the bond we can use the present value formula Given ... View the full answer