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Consider a coupon bond with a face value of $1,000 and a coupon rate of 4.4%. The bond's coupons are paid semi-annually (the next coupon
Consider a coupon bond with a face value of $1,000 and a coupon rate of 4.4%. The bond's coupons are paid semi-annually (the next coupon will be received six months from now) and its yield to maturity is 5.4% (APR). If the bond has 13 years remaining until maturity, what is the current price of the bond? (Round your answer to two decimal places.)
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