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Suppose that, several years ago, the Canadian government issued three very similar bonds; each has...

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Finance

Suppose that, several years ago, the Canadian government issued three very similar bonds; each has a $1,000 face value and a 12-percent coupon rate and will mature in 4 years. The only difference between the bonds is the frequency of the coupon payments. Assume the market yield is now 6.5 percent. Determine the price of the bond that pays coupons annually. (Round present value factor calculationsto 5 decimal places, e.g. 1.25124 and final answer to 2 decimal places, e.g. 1564.25.) Price of bond

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