Compute the selling price of bonds

Reference no: EM1360262

The LOGOS Corporation is planning on issuing bonds that pay no interest but can be converted into $1,000 at maturity, 7 years from their purchase. To price these bonds competitively with other bonds of equal risk, it is determined that they should yield 9%, compounded annually. At what price should the LOGOS corporation sell these bonds.

Reference no: EM1360262

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