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Last month Jim purchased $10 G00 of US Treasury bonds their face valus was $10 000). These bonds have a 20-year maturity period, and they
Last month Jim purchased $10 G00 of US Treasury bonds their face valus was $10 000). These bonds have a 20-year maturity period, and they pay 1.5% Interest over three months le the APRIS GX and Jim recoves a check for $159 everythree months). But interest rates for simlar securities have since risen to a 0% APR because of interest rate increases by the Federal Reserve Board. In view of the interest rate increuse to %, what is the current value of Jim's bonds? The current value of Jim's bands is (Round to the nearest dolar)
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