What is the present worth of a $50,000 debenture bond that has a bond coupon rate of

Question:

What is the present worth of a $50,000 debenture bond that has a bond rate of 8% per year, payable quarterly? The bond matures in 15 years. The interest rate in the marketplace is 6% per year, compounded quarterly.

Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a...