Question: You are considering a 1 0 - year, $ 1 , 0 0 0 par value bond. Its coupon rate is 1 0 % ,

You are considering a 10-year, $1,000 par value bond. Its coupon rate is 10%, and interest is paid semiannually. If you require an "effective" annual interest rate
(not a nominal rate) of 7.1225%, how much should you be willing to pay for the bond? Do not round intermediate calculations. Round your answer to the nearest
cent.
$
You are considering a 10-year, $1,000 par value bond. Its coupon

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