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Bonds that mature in 10 years were recently issued by Sternglass Inc. They have a future (or maturity) value of $1,000 (so FV = $1,000)

Bonds that mature in 10 years were recently issued by Sternglass Inc. They have a future (or maturity) value of $1,000 (so FV = $1,000) and they pay an annual coupon of 6.5% based on FV = $1,000. If the current market interest rate is 10.25% (meaning r = 10.25%), at what price should the bonds sell?

Value of Bond (PV) =

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