What is the value of the bonds

Reference no: EM13194959

A firm issued 5 year 6% annual coupon bonds 3 years ago. The bonds now have 2 years left to maturity and this year's coupon has just been paid. The bonds have a face value of $1,000.

What is the value(rounded to one decimal place)of the bonds now if the current market rate for this type of bond is 12%?

Reference no: EM13194959

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