Problem 10-3 Bond value [LO3] Exodus Limousine Company has $1,000 par value bonds outstanding at 10 percent interest. The bonds will mature in 50 years. Calculate your final answer using the formula and financial calculator methods. Compute the current price of the bonds if the percent yield to maturity is: (Round your final answers to 2 decimal places. Assume interest payments are annual.)
	Input variables:
	Par value	$1,000
	Coupon rate	10	percent
	Number of years	50	years
	a. Yield to maturity	5	percent
	b.Yield to maturity	15	percent
	Solution and Explanation:
	a.
	Price
	b.
	Price