What is the price of a $30-$year bond that makes annual coupon $($interest$)$ payments if the annual coupon rate is $9\%$ and the YTM $($rd$)$ is $7\%?$ Assume the face value $($FV$)$ is $$1000.$

To calculate the annual interest payments $($PMT$)$: take the annual coupon rate and multiply by the face value.

Since the cash flows $($interest payments$)$ are annual, you do not need to do any conversion of the YTM$.$ The standard used by the market for bonds with annual coupon payments is to express the YTM as an EAR$/$EFF$.$

$($I got $1280\mathrm{.}78,$ but I think I missed something$)$