Problem
A 30-year bond has a face value of $1,000 and a coupon rate of 6% per year, interest payments are paid semiannually. If the maturity from now is exactly 10 years and the current market rate for the same bond is 10% per year, compounded semiannually, how much is the bond worth now?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.