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Suppose the US government is issuing a $1,000 PAR value coupon bond today. This bond will mature in 3 years from today. This Bond's annual

Suppose the US government is issuing a $1,000 PAR value coupon bond today.

This bond will mature in 3 years from today.

This Bond's annual coupon rate is 11%.

Coupons are paid 1 time(s) in a year.

The investors expect 4% annual return on this bond.

What is the present value of the Bond's PAR? (also known as the face value or principal)?

Hint: Answer is between 791.21 and 969.01

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