Given:

US$ 1000 par value; coupon rate = 5%; maturity = 15 years; required rate of return (r) = 8%

Solve for the following:

a). Price of the bond

b) All else the same, if coupon is 10%; price of the bond today

c). All else the same, if maturity is 10 years; price of the bond today

d). All else the same, if r = 3%