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Applied Software has a $ 1 , 0 0 0 par value bond outstanding that pays 1 2 percent interest with annual payments. The current

Applied Software has a $1,000 par value bond outstanding that pays 12 percent interest with annual payments. The current yield to maturity on such bonds in the market is 7 percent. Use Appendix B and Appendix D.
Compute the price of the bonds for these maturity dates: (Round "PV Factor" to 3 decimal places. Do not round intermediate calculations. Round the final answer to 2 decimal places.)
Price of the
bond
a.30 years $
b.15 years $
c.1 year $

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