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Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 18 years Coupon rate: 6 percent Semiannual payments Calculate the price

Microhard has issued a bond with the following characteristics:

Par: $1,000

Time to maturity: 18 years

Coupon rate: 6 percent

Semiannual payments

Calculate the price of this bond if the YTM is: (Do not round intermediate calculations and round your final answers to 2 decimal places (e.g., 32.16).)

		Price of the Bond
a.	6 percent	$ 1,000.00
b.	9 percent	$ 737.33
c.	3 percent	$

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