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Canter Corp. purchased fifteen $1,000 7​% bonds of Simplex Simplex Corporation when the market rate of...

Canter Corp. purchased fifteen $1,000 7​% bonds of Simplex Simplex Corporation when the market rate of interest was 12​%. Interest is paid​ semiannually, and the bonds will mature in ten years. Using the PV function in Excel Superscript ® compute the price Canter

Canter paid​ (the present​ value) for the bond investment.​ (Assume that all payments of interest and principal occur at the end of the period. Round your answer to the nearest​ cent.)

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Bond semiannual coupon - $1,000 x 7% x 6/12 = $35 x15 $525 Semiannual interest rate 12 % /2 6 % Number of semiannual periods

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