# Bond Price and Interest

Ricks Roofing Corporation's bonds have a 15-year maturity, a 7% semiannual coupon, and a par value of $1,000. The going interest rate (rd) is 6%, based on semiannual compounding.

What is the price of this bond?

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Ricks Roofing Corporation's bonds have a 15-year maturity, a 7% semiannual coupon, and a par value of $1,000. The going interest rate (rd) is 6%, based on semiannual compounding.

What is the bond's price?

Calculating price of a bond

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#### Solution Summary

This solution calculates bond price.

$2.19