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A couple purchased a bond for $950.00 three years ago. The bond pays 6.125% APR with semi-annual coupons with a face value of $1,000.
A couple purchased a bond for $950.00 three years ago. The bond pays 6.125% APR with semi-annual coupons with a face value of $1,000. Currently, the bond has exactly 10 years until maturity, and investors seek a return of 11.33% APR on bonds of similar risk. What is the current price of the bond? Submit Answer format: Currency: Round to: 2 decimal places. Show Hint 4
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