The new price of the bond if the market interest rate decreases by 150 basis points (or 1.5% ) is $. (Round to the nearest cent.) To calculate the price of a bond with semiannual compounding, use the following formula: Bondprice(withsemi-annualcompounding)BPi=(1+2ri)1C/2+(1+2ri)2C/2++(1+2ri)2NC/2+(1+2ri)2N$1,000 where C/2= the amount of interest paid every six months, 2N= total number of six-month periods until the bond matures, and r/2= the required rate of return per 6 month period