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Calculate the current price of a $6,000 par value bond that has a coupon rate of 15 percent, pays coupon interest quarterly (i.e., 4 times per year), has 15 years remaining to maturity, and has a current yield to maturity (discount rate) of 4 percent.

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Calculate the current price of a $6,000 par

value bond that has a coupon rate of 15 percent, pays coupon interest quarterly (i.e., 4 times per year), has 15 years remaining to maturity, and has a current yield to maturity (discount rate) of 4 percent.

 
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