Some bonds, referred to as zero$-$coupon bonds, pay no periodic interest;

instead the bondholder buys the bond at a discount and receives the

maturity value on the maturity date. In effect, interest is received in one

lump$-$sum when the bond matures. Suppose a corporation issues $25-$

year $$1,000$ zero coupon bonds. Calculate the price you must pay for

one of these bonds based on earning a $7\%$ annual rate.