The Altoona Company issued a 25-year bond 5 years ago with a face value of $1,000. The bond pays interest semiannually at a 9% annual rate.
What is the bond's price today if the interest rate on comparable new issues is 12%? Round the answer to the nearest cent.
$
What is the price today if the interest rate is 8%? Round the answer to the nearest cent.
$
What is the price today if the interest rate is 9%? Round the answer to the nearest cent.
$ 1,000.00