Question: Bond Price Calculation ( Annual Interest ) : Tom is considering investing in bonds that have 1 0 years remaining to maturity. The bonds pay

Bond Price Calculation (Annual Interest):
Tom is considering investing in bonds that have 10 years remaining to maturity. The bonds pay an annual coupon interest rate of 6%, have a face value of $1,000, and the current yield to maturity is 7%. What is the current price of these bonds?

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