On December 31, 2004, $180,000 of 12% bonds were issued. The market interest rate at the time of issuance was 14%. The bonds pay interest on June 30 and December 31 and mature in 10 years. Required: Compute the selling price of a single $1,000 bond on December 31, 2004. Note: Round all intermediate calculations to three decimal places, and round your final answer to the nearest cent.

On December 31, 2004, $180,000 of 12% bonds were issued. The market interest rate at the time of issuance was 14%. The bonds pay interest on June 30 and December 31 and mature in 10 years. Required: Compute the selling price of a single $1,000 bond on December 31, 2004. Note: Round all intermediate calculations to three decimal places, and round your final answer to the nearest cent.
Hi, I am doing bond too. Maybe we can help each other..