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 $8$ percent annual interest and has $17$ 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.

What is the current price of the bonds? $657\mathrm{.}33$ is the correct answer

Note: Do not round intermediate calculations. Round your final answer to $2$ decimal places. Assume interest payments are annual.

By what percent will the price of the bonds increase between now and maturity? answer is not $52\mathrm{.}14\%.$

Note: Do not round intermediate calculations. Input your answer as a percent rounded to $2$ decimal places. PLEASE SHOW YOUR WORK I HAVE TO UNDERSTAND HOW TO DO THIS