Business, 25.12.2019 01:31 gavergan

Caldwell, inc. sold an issue of 30-year, $1,000 par value bonds to the public. the bonds carry a 10.85% coupon rate and pay interest semiannually. it is now 12 years later. the current market rate of interest on the caldwell bonds is 8.45%.

what is the current market price of the bonds? (round to the nearest dollar.)

the answer is 1220. how to use calculator to get this answer?

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Caldwell, inc. sold an issue of 30-year, $1,000 par value bonds to the public. the bonds carry a 10....