Question: A bond has $ 1 5 0 0 0 face value and its coupon rade is 1 0 . 8 % ( AP ) .

A bond has $ 15000 face value and its coupon rade is 10.8%(AP). The VTM of bonds with simlun mits in 99%. Ceupon is gai on an annual boss at the end of each years. The matarty of he bond e 3 years. What is the fair price of this bond?Give the answer in round number without currency sign, e. g. if the amower is 515-45.05 than wrhe 1545)

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