If today, a different bondholder's required rate of return for Apple's bond is 3.15%, find the intrinsic value for the bond. Show your calculator keystroke variables used to solve for the intrinsic value.

Solving:

N 60 (Entered as 30 x 2)

I 1.575 (Entered as 3.15/2)

PV Solving $

PMT 0.7875 Found by (.01575 x $100)/2

FV 100