Two years ago bonds were issued at par with 10 years until maturity and a 7% annual coupon.If interest rates for that grade of bond are currently 8.25%,what will be the market price of these bonds?

Name: Two years ago bonds were issued at par with 10 years until maturity and a 7% annual coupon.If interest rates for that grade of bond are currently 8.25%,what will be the market price of these bonds?
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Price = (0.07 × $1,000) {(1 / 0.0825) − [1 / 0.0825(1.0825)^{10 − 2}]} + $1,000 / 1.0825^{10 − 2}

Two Years Ago Bonds Were Issued at Par with 10