You are purchasing a 8-year discount bond with a face value, Microeconomics

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You are purchasing a 8-year discount bond with a face value

You are purchasing a 8-year discount bond with a face value of 804. At the time of purchase it had an interest rate of 5%. Calculate the price of the bond that you are purchasing. Please express your answer in dollars to the penny. You should enter a number, with NO dollar sign. and show work.

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Microeconomics: You are purchasing a 8-year discount bond with a face value

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Microeconomics: You are purchasing a 8-year discount bond with a face value

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