Bond prices depend on the market rate of interest, stated rate of interest, and time. Compute the price of the following 7% bonds of united telecom.
a) $500,000 issued at 76.75
b) $500,000 issued at 104.75

I am just not sure how to get started. I don't want anyone to do it for me, just tell me how to get started please. Is there a formula I use?