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How to Finding the price of the bond.

The Mangold Corporation has two different bonds currently outstanding

Bond M has a face value of $22,500 and matures in 22 years. The bond makes no payments for the first six years, then pays $1,500 every six months over the subsequent 10 years, and finally pays $1,800 every six months over the last 6 years.
Bonds N also has a face value of $22,500 and a maturity of 22 years; it makes no coupon payments over value of bond. If the required return on these bonds is 12 percent compounded semi-annually, the current procebonds M and N is $__________ and $___________, respectively. (Round your answers to 2 decimal places, e.g. 32.16.)

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Category:- Basic Finance
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