(Related to Checkpoint 9.4)(Bond valuation) A bond that matures in

18

years has a

$1,000

par value. The annual coupon interest rate is

7

a.The value of this bond if it paid interest annually would be $ (Round to the nearest cent.) b.The value of this bond if it paid interest semiannually would be $ (Round to the nearest cent.

percent and the market's required yield to maturity on a comparable-risk bond is

13

percent. What would be the value of this bond if it paid interest annually? What would be the value of this bond if it paid interest semiannually?