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Juan is contemplating buying a zero coupon bond that matures in 10 years and has a face value of $30,000. If the bond yields a return of 8.25%/year, how much should Juan pay for the bond? (Round your answer to the nearest cent.) $

Juan is contemplating buying a zero coupon bond that matures in 10 years and has a face value of $30,000. If the bond yields a return of 8.25%/year, how much should Juan pay for the bond? (Round your answer to the nearest cent.) $

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 19E
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Juan is contemplating buying a zero coupon bond that matures in 10 years and has a face value of $30,000. If the bond yields a return of 8.25%/year, how much should Juan pay for the bond? (Round your answer to the nearest cent.) $ 
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