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What is the present value of a bond that has a time to maturity of 7 years, semiannual coupon payments of $95(so $95 is paid
What is the present value of a bond that has a time to maturity of 7 years, semiannual coupon payments of $95(so $95 is paid out every six months), and a face value of $1000, if the yield to maturity is 10.25% (effective annual rate) or 10% (annual percentage rate) (note that these two latter rates are actually the same)? (answer in dollars, but without the dollar sign)
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