Lance Whittingham IV specializes in buying deep discount bonds These represent bonds that are trading at well below par value He has his eye on a bond issued by the Leisure Time Corporation The $1,000 par value bond pays 5 percent annual interest and has 14 years remaining to maturity The current yield to maturity on similar bonds is 13 percent Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods a What is the current price of the bonds (Do not round intermediate calculations Round your final answer to 2 decimal places Assume interest payments are annual ) b By what percent will the price of the bonds increase between now and maturity (Do not round intermediate calculations Input your answer as a percent rounded to 2 decimal places ) Lance Whittingham IV specializes in buying deep discount bonds These represent bonds that are trading at well below par value He has his eye on a bond Issued by the Leisure Time Corporation The $1,000 par value bond pays 5 percent annual interest and has 14 years remaining to maturlty The current yleld to maturity on similar bonds is 13 percent Use Appendix B and Ap pendlx D for an approximate answer but calculate your final answer using the formula and financial calculator methods a What is the current price of the bonds (Do not round intermedlate calculations Round your final answer to 2 decimal places Assume interest payments are annual ) b By what percent will the price of the bonds increase between now and maturity (Do not round intermediate calculations Input your answer as a percent rounded to 2 decimal places )

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Lance Whittingham IV specializes in buying deep discount bonds. These represent bonds that are trading at well below par value. He has his eye on

Lance Whittingham IV specializes in buying deep discount bonds. These represent bonds that are trading at well below par value. He has his eye on a bond issued by the Leisure Time Corporation. The $1,000 par value bond pays 5 percent annual interest and has 14 years remaining to maturity. The current yield to maturity on similar bonds is 13 percent. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.

a. What is the current price of the bonds? (Do not round intermediate calculations. Round your final answer to 2 decimal places. Assume interest payments are annual.)

b. By what percent will the price of the bonds increase between now and maturity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)

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Lance Whittingham IV specializes in buying deep discount bonds. These represent bonds that are trading at well below par value. He has his eye on a bond Issued by the Leisure Time Corporation. The $1,000 par value bond pays 5 percent annual interest and has 14 years remaining to maturlty. The current yleld to maturity on similar bonds is 13 percent. Use Appendix B and Ap pendlx D for an approximate answer but calculate your final answer using the formula and financial calculator methods. a. What is the current price of the bonds? (Do not round intermedlate calculations. Round your final answer to 2 decimal places. Assume interest payments are annual.) b. By what percent will the price of the bonds increase between now and maturity? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)