On June 1, 2018, the US Treasury issued new 20-year, $1,000 par value bonds paying a 4.40% coupon semiannually. On June 1, 2019, similar T-bonds were paying 4.65% coupons. What was the market value of the 2018 bonds as of June 1, 2019?

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The Answer of On June 1, 2018, the US Treasury issued new 20-year, $1,000 par value bonds paying a 4.40% coupon semiannually. On June 1, 2019, similar T-bonds were paying 4.65% coupons. What was the market value of the 2018 bonds as of June 1, 2019?

On June 1, 2018, the US Treasury Issued New 20-Year