Microsoft did a bond sale with maturities ranging from 5 to 40 years. you decide to purchase the bonds with a 10-year maturity and a par or face value of $1,000,000. It has a coupon of 3.0% with the current yield to maturity of 5.0%. The bond issue makes semi-annual payments. What is the current value of these bonds?

Microsoft did a bond sale with maturities ranging from 5 to 40 years. you decide to purchase the bonds with a 10-year maturity and a par or face value of $1,000,000. It has a coupon of 3.0% with the current yield to maturity of 5.0%. The bond issue makes semi-annual payments. What is the current value of these bonds