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This bond problem will consist of two parts. Part One: The Union Local School District has bonds outstanding with a coupon rate of 3.2

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This bond problem will consist of two parts. Part One: The Union Local School District has bonds outstanding with a coupon rate of 3.2 percent paid semiannually and 15 years to maturity. The yield to maturity on these bonds is 4.2 percent and the bonds have a par value of $1,000. What is the price of the bond today? Part Two: Assume the same facts as Part One, except that the bonds have a par value of $4,000. What is the amount of the semiannual coupon payment? What is the price of the bond today? I

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