A corporate bond has a face value of $1000 with maturity date 20 years from today The bond pays interest semiannually at a rate of 8 per year based on the face value The interest rate paid on similar corporate bonds has decreased to a current rate of 6 Determine the market value of the bond ...

The market value of the bond is the present ...

A corporate bond has a face value of $1000 with maturity date 20 years from today. The

Question:

A corporate bond has a of $1000 with date 20 years from today. The bond pays interest semiannually at a rate of 8% per year based on the The interest rate paid on similar corporate bonds has decreased to a current rate of 6%. Determine the market value of the bond.
Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the... Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...