Bond valuation Callaghan Motors’ bonds have 10 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 8 percent; and the yield to maturity is 9 percent. What is the bond’s current market price

Answer 1

Use the formula given here:
http://www.financeformulas.net/Yield_to_Maturity.html