As with most bonds, consider a bond with a face value of $1,000. The bond's maturity is 29 years, the coupon rate is 5% paid annually, and the market yield (discount rate) is 7%.

What should be the estimated value of this bond in one year? Assume the market yield remains unchanged.

Enter your answer in terms of dollars and cents, rounded to 2 decimals, and without the dollar sign. That means, for example, that if your answer is $127.5678, you must enter 127.57

I did =-PV(7%,29,(1000*5%,1000) and got $754.45, I guess I'm unsure what to do next.