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Red Mountain, Inc. bonds have a face value of $1,000. The bonds have a coupon rate of 7%, and pay interest annually, and mature in
Red Mountain, Inc. bonds have a face value of $1,000. The bonds have a coupon rate of 7%, and pay interest annually, and mature in 13 years. What is the current price of these bonds if the yield to maturity is 6.82%? Round off your dollar values to two decimal place every step (There is no 0.1 cent). Answer with two decimal place accuracy. Please do not include the dollar sign ($) -- for example, if the answer is $12.00, simply write 12.00
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