Principles of financial management hw 4 question 18

Homework: HW 4 (Ch. 6 & 7) Question 18, Problem 7-... Part 1 of 2 HW Score: 65%, 13 of 20 points O Points: 0 of 1 Save (Bond valuation) Bellingham bonds have an annual coupon rate of 11 percent and a par value of $1,000 and will mature in 15 years. If you require a return of 13 percent, what price would you be willing to pay for the bond? What happens if you pay more for the bond? What happens if you pay less for the bond? a. The price you would be willing to pay for the bond is $(Round to the nearest cent.)