A bond that matures in 13 years has a ?$1,000 par value. The annual coupon interest rate is 9 percent and the? market's required yield to maturity on a? comparable-risk bond is 18 percent. What would be the value of this bond if it paid interest? annually? What would be the value of this bond if it paid interest? semiannually? ROUND TO NEAREST CENT FOR BOTH ANSWERS!
a. The value of this bond if it paid interest annually would be ?$ ___. ?(Round to the nearest? cent.)
b. The value of this bond if it paid interest semi-annually would be $___. (Round to the nearest cent)