You bought a bond with a face value of $1,000 with a stated interest rate of 10% with a maturity of 2 years. The interest is paid yearly. What market price do you pay for the bond if the market interest rate is 5%?You bought a bond with a face value of $2,000 with a stated interest rate of 20% with a maturity of 3 years. The interest is paid yearly. What market price do you pay for the bond if the market interest rate is 5%?Could you please help me with step by step calculation?Thanks a lot
What market price do you pay for the bond
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