A bond has a face value of $ 1 , 0 0 0 , pays an annual coupon at rate of 7 p a , is trading at a yield of 5 and has three years to maturity What is the current price of the bond

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A bond has a face value of $ 1 , 0 0 0 , pays an annual coupon at rate of 7 % p .

A bond has a face value of $

1, 000,

pays an annual coupon at rate of

7 %

.

.,

is trading at a yield of

5 %

and has three years to maturity.

What is the current price of the bond?

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