Question: Please type out the work for me folks, I need to understand this stuff :) Thanks!! Marco Chip, Inc. just issued zero-coupon bonds with a

Please type out the work for me folks, I need to

Please type out the work for me folks, I need to understand this stuff :) Thanks!!

Marco Chip, Inc. just issued zero-coupon bonds with a par value of $1,000. The bond has a maturity of 16 years and a yield to maturity of 13.03 percent, compounded semi-annually. What is the current price of the bond? Round the answer to two decimal places

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