a par value of $1,000.

Homework #4E (zero-coupon bond


Question 3 (1 point)


20 years ago, Mini Max Inc. issued 30 year to maturity zero-coupon bonds with a par value of $1,000. Now the bond has a yield to maturity of 7.21 percent, compounded semi-annually. What is the current price of the bond?

Round the answer to two decimal places.