MINDTAP Q Search this Spring 2021 t: Assignment 3 -- Spring 2021 Assignment Score: 47.349 Save Submit Assignment for Grading Problem 7.16 (Bond Valuation) Question 6 of 12 Check My Work eBook D You are considering a 10-year, $1,000 par value bond. Its coupon rate is 11%, and interest is paid semiannually. If you require an "effective" annual interest rate (not a nominal rate) of 8.16%, how much should you be willing to pay for the bond? Do not round intermediate calculations Round your answer to the nearest cent. $ 1067.95 Hide Feedback 3 Incorrect