Homework #4B (Value of the Bond annually)

Homework #4B (Value of the Bond annually) 

Finance

Question 1 (1 point)

 

What is the value of a bond that has a par value of $1,000, a coupon rate of 7.35 percent (paid annually), and that matures in 16 years? Assume a required rate of return on this bond is 10.58 percent.

Round the answer to two decimal places.

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