Question: 9. Problem 7.16 (Bond Valuation) eBook You are considering a 20-year, $1,000 par value bond. Its coupon rate is 10%, and interest is paid semiannually.

9. Problem 7.16 (Bond Valuation) eBook You are considering a 20-year,

9. Problem 7.16 (Bond Valuation) eBook You are considering a 20-year, $1,000 par value bond. Its coupon rate is 10%, and interest is paid semiannually. If you require an "effective" annual interest rate (not a nominal rate) of 9.2025%, how much should you be willing to pay for the bond? Do not round intermediate calculations. Round your answer to the nearest cent

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