A $1000 face value strip bond has 22 years remaining until maturity. What is its price if

Question:

A $1000 strip bond has 22 years remaining until maturity. What is its price if the market rate of return on such bonds is 6.5% compounded semiannually?
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...