Question: Hampton Utilities issues a bond with a $1.000 par value that pays $30 in annual interest. It matures in 20 years. Your required rate of

Hampton Utilities issues a bond with a $1.000 par value that pays $30 in annual interest. It matures in 20 years. Your required rate of return is 4%. How does the value change is our required rate if return increases to 7 percent (what is the new value)? Calculate the value of the bond. (Round to the nearest cent, le. 86.56; do not include $sign) Numeric Response

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