Find the price of a $10$ percent coupon bond with three years to maturity if the yield to maturity is now $12$ percent. Use semiannual discounting.

$$ $$950\mathrm{.}83$

$$ $$952\mathrm{.}20$

When doing the steps, can you explain how FV$=1000($where does the $1000$ come from$)??$