Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.

# You intend to purchase a 10-year, $1,000 face value bond that pays interest of $60 every 6 months.

You intend to purchase a 10-year, $1,000 face value bond that pays interest of $60 every 6 months. If your nominal annual required rate of return is 10 percent with semiannual compounding, how much should you be willing to pay for this bond?