Problem 1. Amortizing Bond

Assume that a bond makes 30 equal annual payments of

$1,000 starting one year from today.

(This security is sometimes referred to as an amortizing bond.)

If the discount rate is

3.5% per annum, what is the current price of the bond?

(Hint: Recognize that this cash flow stream is an annuity and that

the price of an asset is the present value of its future cash flows.)

*Make sure to input all currency answers without any currency

symbols or commas, and use two decimal places of precision.