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(Please use a math, finance equation and/ or formula. DONT USE A SHEET CHART, EXCEL, OR GRAPH) 14) You are considering a 8-year, $1,000 par

(Please use a math, finance equation and/ or formula. DONT USE A SHEET CHART, EXCEL, OR GRAPH)

14) You are considering a 8-year, $1,000 par value bond. Its coupon rate is 12%, and interest is paid semiannually. If you require an effective annual rate of 10.5%, how much should you be willing to pay for the bond?

1,035

1,195

1,128

1,255

1,095

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