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  3. a ford motor co. coupon bond has a coupon rate of

A Ford Motor Co. coupon bond has a coupon rate of 6.9%, and pays annual...

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Question

Accounting

A Ford Motor Co. coupon bond has a coupon rate of 6.9%,

and pays annual coupons. The next coupon is due tomorrow and the bond matures 32

years from tomorrow. The yield on the bond issue is 6.2%.

At what price should this bond trade today, assuming a face value of $1,000?

The price of the bond today should be $___.

(Round to the nearest cent.)

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