34. Four years ago you bought a 25-year 8.5% $1,000 bond. The bond pays interest each 6 months. You want to sell the bond. You just received the 8h semiannual interest payment of $42.50 ($1,000 x...

Extracted text: 34. Four years ago you bought a 25-year 8.5% $1,000 bond. The bond pays interest each 6 months. You want to sell the bond. You just received the 8h semiannual interest payment of $42.50 ($1,000 x 4.25% periodic rate = $42.50). semiannually. What is your bond worth today? Similar bonds are being issued that pay 6%