Engineering Economy 7th Edition by Leland Blank ,Anthony Tarquin

Exercise 29

Best Buy issued collateral bonds 4 years ago that have a face value of $20,000 each and a coupon rate of 8% per year, payable semiannually. If the bond maturity date is 20 years from the date they were issued and the interest rate in the marketplace is now 12% per year, compounded semiannually, what is the present worth (now) of one bond