A 15-year bond has an annual-pay coupon of 7.5% and is priced to yield 9%. Calculate the

Question:

A 15-year bond has an annual-pay of 7.5% and is priced to yield 9%. Calculate the price per $1,000 par value.
Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a...