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Grand Blanc Bond: You bought this bond today, though the bond was issued new 5 years ago with a maturity of 15 years Bond Features:

Grand Blanc Bond:

You bought this bond today, though the bond was issued new 5 years ago with a maturity of 15 years

Bond Features: C = 8.0% payable semi-annually, Par Value = $1,000

Bonds with similar risks now have YTM = 6.0%.

What PRICE did you pay for this bond today?

[Answer Format: For $1,875.25, Please answer 1875.25, omit the $ sign]

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