Assume that a bond makes 30 equal annual payments of $1,000 starting one year from today. (This security is sometimes referred to as an amortizing...

Assume that a bond makes 30 equal annual payments of $1,000 starting one year from today.

(This security is sometimes referred to as an amortizing bond.)

If the discount rate is 3.5% per annum, what is the current price of the bond?

(Hint: Recognize that this cash flow stream is an annuity and that the price of an asset is the present value of its future cash flows.)