Calculate the current price of a $1,000 par value bond that has a coupon rate of 7 percent, pays coupon interest annually, has 15 years remaining to maturity, and has a current yield to maturity (discount rate) of 15 percent. (Round your answer to 2 decimal places and record without dollar sign or commas).
Calculate the current price of a $1,000 par
value bond that has a
coupon rate of 7 percent, pays coupon interest annually, has 15
years remaining to maturity, and has a current yield to maturity
(discount rate) of 15 percent. (Round your answer to 2 decimal
places and record without dollar sign or commas).
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