Bond Valuation with Semiannual Payments

Renfro Rentals has issued bonds that have an 8% coupon rate, payable semiannually. The bonds mature in 12 years, have a face value of $1,000, and a yield to maturity of 7.5%. What is the price of the bonds? Round your answer to the nearest cent.

bondsthat have an 8% coupon rate, payable semiannually. Thepriceof the bonds is: $1,039.11.## Price of the bonds

financialcalculator to find or determine the price of the bonds (Present value) byinputtingthe below data:Nrepresent Number of years = 12 x 2 = 24Irepresent Interest rate= 7.5 % / 2 =3.75 %PMTrepresent Periodic payment= (8% x 1000) / 2 = $40FVrepresent Future value= $1,000PVrepresent Present value=?$1,039.11bondsthat have an 8% coupon rate ,payable semiannually. Thepriceof the bonds is: $1,039.11.price of the bonds or present valuehere: https://brainly.com/question/13990294