16.14

is paid annually? The amount Mia should pay for the bonds is $ (Round to the nearest cent.)

Bond Valuation. Mia wants to invest in Treasury bonds that have a par value of $20,000 and a coupon rate of 3.1%. The bonds have a 14-year maturity, and Mia requires a 2% return. How much should Mia pay for her bonds, assuming interest is paid annually? D. (Round to the nearest cent.) The amount Mia should pay for the bonds is $