Question: How much you will pay for a bond with a coupon rate (interest rate) of 8% and $1,000 par value, that matures in 5 years

How much you will pay for a bond with a coupon

How much you will pay for a bond with a coupon rate (interest rate) of 8% and $1,000 par value, that matures in 5 years if your required rate of return is 10% USE THE FORMULA DON NOT MAKE INTERMEDIATE ROUNDING YOUR FINAL ANSWER SHOULD BE ROUNDED TO ZERO "0" DECIMAL PLACES

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