show the working

9 percent

3.Consider Fulton Manufacturing Company's 8.75 percent bonds that mature on April 15, 2028. Assume that the interest on these bonds is paid and compounded annually. Determine the value of a $1,000 denomination Fulton bond as of April 15, 2016, to an investor who holds the bond until maturity and whose required rate of return is: ANS: 9 percent FV =1000 NPER-6 RATE =9.00 PMT=98.75 PV =$1,039.25