10 Norwegian Adventures offers a 7 coupon bond with annual p

10. Norwegian Adventures offers a 7% coupon bond with annual payments. The yield to maturity is 8% and the maturity date is 7 years from today. What is the market price of this bond if the face value is $1,000?

Face value 1000.00 Coupon 7% Coupon amount 70 Yield to maturity 8% Maturity Term (yrs) 7 Price $947.94 =-PV(8%,7,70,1000,0)