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Problem 7 - 1 1 Compute Bond Price ( LG 7 - 4 ) Compute the price of a 5 . 3 percent coupon bond

Problem 7-11 Compute Bond Price (LG7-4)
Compute the price of a 5.3 percent coupon bond with 15 years left to maturity and a market interest rate of 8.4 percent. (Assume interest payments are semiannual.)
Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.
Is this a discount or premium bond?
Answer is not complete.
\table[[Bond price,$
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