Question $3(7$ points$)$

Listen

Calculate the current price of a $$1,000$ par value bond that has a coupon rate of $9$ percent, pays coupon interest annually, has $10$ years remaining to maturity, and has a current yield to maturity $($discount rate$)$ of $15$ percent. $($Round your answer to $2$ decimal places and record without dollar sign or commas$).$

Your Answer:

Answer