problem: Assume you bought a bond that will pay $1,000 in twenty (20) years. No intermediate coupon payments will be made. If the appropriate interest rate is 8 percent.
[A] find out the current price of the bond?
[B] find out the price be 10 years from today?
[C] find out the price be 15 years from today?
Suppose that the interest rate will not change over the life of the bond.