How much would a zero coupon bond sell for today that pays $1,000 in 10 years, assuming an interest rate of 3% that is compounded monthly? Assume that there are no sales commissions or other transaction costs. Note: Zero coupon bonds are bonds that do not pay interest during the life of the bonds. Instead, investors buy zero coupon bonds at a deep discount from their face value, which is the amount a bond will be worth when it "matures" or comes due. When a zero coupon bond matures, the investor will receive one lump sum equal to the initial investment plus the imputed interest.

iNSTRUCTION: Pls show the detailed workout Use the formula S= A * (1+i)n