Perform the calculations utilizing

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Question: Approximately 23 years ago, Menz Gold successfully offered zero-coupon bonds with a maturity period of 30 years, carrying a par value of $5,000. The prevailing interest rate on this particular bond variant stands at 11.33 percent, compounded on an annual basis. What is the prevailing market price of the bond?

Please round the answer to two decimal places.

Perform the calculations utilizing either Microsoft Excel or a financial calculator. Additionally, algebraic formulas may also be employed. Kindly refrain from utilizing financial tables for the computation of these problems.

Reference no: EM133558157

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