Assume the par value of the bond is $1,000.

Price of the bonds. $ ?

I need easy step by step explanation plus answers

The yield to maturity for 15 -year bonds is as follows for four different bond rating categories The bonds of Falter Corporation were rated as AA and issued at par a few weeks ago. The bonds have just been downgraded to A Determine the new price of the bonds, assuming a 15 -year maturity and semiannual interest payments. Assume the par value of the bonds is $1,000. (Use a Financial calculator to arrive at the answer. Round the final answer to 2 decimal places.) Price of the bonds The bonds of Falter Corporation were rated as AA and issued at par a few weeks ago The bonds have just been downgraded to A. Determine the new price of the bonds, assuming a 15-year maturity and semiannual interest payments. Assume the par value of the bonds is $1,000. (Use a Financial calculator to arrive at the answer. Round the final answer to 2 decimal places.) Price of the bonds