Question: Applied Software has a $1,000 par value bond outstanding that pays 13 percent interest with annual payments. The current yield to maturity on such bonds

Applied Software has a $1,000 par value bond outstanding that pays

Applied Software has a $1,000 par value bond outstanding that pays 13 percent interest with annual payments. The current yield to maturity on such bonds in the market is 8 percent Compute the price of the bonds for these maturity dates (Use a Financial calculator to arrive at the answers. Do not round intermediate calculations. Round the final answers to 2 decimal places.) Price of the bond a. 30 years b. 16 years C. 7 years $

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