Problem
A bond has a face value of $1,000 with maturity date 20 years from today. The bond pays interest semiannually at a rate of 8% per year based on the face value. If the current rate of similar bonds is 6%, what is the current market value of the bond?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.