Question $12(5$ points$)$

Calculate the price of a bond with these characteristics.

Assume the coupon rate is $0\mathrm{.}06,$ coupon payments are made every six months $($twice per year$),$ and the par value $($maturity payment$)$ of the bond is $1,000.$

Given, years to maturity $=5\mathrm{.}0$; market interest rate $=0\mathrm{.}03.$