Question: Five years ago, you purchased a $ 1 , 0 0 0 a corporate bond with an interest rate of 4 . 8 percent that

Five years ago, you purchased a $1,000 a corporate bond with an interest rate of 4.8 percent that matures in 10 years. Interest payments are made every six months. Today, comparable bonds are paying 5.40 percent. To solve the problem below, you may want to use the bond price calculator atwww.thecalculator.co/finance/Bond-Price-Calculator-606.html What is the approximate dollar price for which you could sell your bond? Note: Do not round intermediate calculations. Round your answer to 2 decimal places.

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