Colourful Corps bonds, which has a maturityof

17

years,

6

percent interest rate on a

$1,000

face value. The interest is paid semiannually. If your required rate of return is

13

percent, what is the value of the bond? What would be the answer change if the interest were paid annually?

a.semiannual payments, the value of the bond is

$nothing.

(Round to the nearest cent.)

b.

Annual

payments, the value of the bond is

$nothing.

(Round to the nearest cent.)