Question: Determine par value for a bond. Bonds are usually quoted in the marketplace as a percentage of par, so a bond quote of 99.5 indicates

Determine par value for a bond. Bonds are usually quoted in the marketplace as a percentage of par, so a bond quote of 99.5 indicates the bond is priced at 99.5% of par, e.g. $995 for a $1,000 bond.

Bond:

Coupon: 4.25%

Type: Fixed

Frequency: Semi-Annually

Years to Maturity: 20

Current Price: $78.28

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