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1. A $1,000 par-value bond with 5 years of maturity pays a 7% coupon rate, paid annually. What is the value of the bond if

1. A $1,000 par-value bond with 5 years of maturity pays a 7% coupon rate, paid annually. What is the value of the bond if your required rate of return is 7%?

A $1,000 par-value bond with 5 years of maturity pays a 5% coupon rate, paid semi-annually. What is the value of the bond if your required rate of return is 8%?

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