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ecom=nomics problem. Thank You! Last month Jim purchased $9,600 of U.S. Treasury bonds (their...

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Accounting

ecom=nomics problem. Thank You!image

Last month Jim purchased $9,600 of U.S. Treasury bonds (their face value was $9.600). These bonds have a 34-year maturity period, and they pay 2.0% interest every three months (ie., the APR is 8%, and Jim receives a check for $192 every three months). But interest rates for similar securities have since risen to a 9% APR because of interest rate increases by the Federal Reserve Board. In view of the interest-rate increase to 9%, what is the current value of Jim's bonds

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