Homework #4C (Value of the Bond Semi-Annually)
Question 3 (1 point)
Flower Valley Company bonds have a 9.16 percent coupon rate. Interest is paid semiannually. The bonds have a par value of $1,000 and will mature 18 years from now. Compute the value of Flower Valley Company bonds if investors’ required rate of return is 8.65 percent.
Round the answer to two decimal places.