Personal Finance (3) Save Homework: Chapter 16 Homework Score: 0 of 1 pt 8 of 10 (7 complete) HW Score: 70%, 7 of 10 pts Planning #5 (similar to): Return on Bond Question Help Return on Bonds. Timothy has an opportunity to buy a $3,000 par value corporate bond with a coupon rate of 5% and a maturity of five years. The bond pays interest annually. If Timothy requires a return of 8%, what should he pay for the bond? 1 Timothy requires a return of 8%, the amount he should pay for the bond is $[ (Round to the nearest cent.) Enter your answer in the answer box and then click Check Answer. All parts showing Clear All Check