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3. Assume that two years after the Venture Healthcare bonds (ten-year maturity, a 12 percent coupon rate with annual payments, and a $1,000 par value)

3. Assume that two years after the Venture Healthcare bonds (ten-year maturity, a 12 percent coupon rate with annual payments, and a $1,000 par value) were issued, the required interest rate fell to 13%. What would be the bonds value? Hint: Watch the Homework Hint video to figure out how to calculate this using Excel.

Choice: $887.24

Choice: $952.01

Choice: $1,000.00

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