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Calculate the purchase price of the $1,000 face value bond using the information given below. Issue date Maturity date Purchase date Coupon rate (%) Market

Calculate the purchase price of the $1,000 face value bond using the information given below.

Issue date Maturity date Purchase date Coupon rate (%) Market rate (%)
Jan 31, 2009 Jan 31, 2039 July 31, 2011 5.1 6.0

-Bonds are paid semi-annually -Bond was orginally issued at its face value Bonds are redeemed at their face value at maturity market rates of return are compounded semianually Bond price $? (Rounded to nearest cent

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