Suppose the US government is issuing a $1,000 PAR value coupon bond today. This bond...
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Suppose the US government is issuing a $1,000 PAR value coupon bond today. This bond will mature in 3 years from today. This Bond's annual coupon rate is 11%. Coupons are paid 1 time(s) in a year. The investors expect 4% annual return on this bond. What is the present value of the Bond's PAR (also known as the face value or principal)? Enter your answer in the following format: 123.45 Hint: Answer is between 791.21 and 969.01
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