Cyberdyne Systems is issuing a series of zero coupon bonds to raise $500M to fund research and development at its Skynet division. Each bond will have a face value of 1000.00 and will mature in 15 years. The yield on the bond is 2%.
What is the fair price for one of Cyberdyne's zero coupon bonds?
The fair price for one of Cyberdyne's zero coupon bonds is $nothing.
(Round to the nearest cent.)