Answer:
$1,051.54
Explanation:
The computation of the price of the bond is presented below that is attached in the spreadsheet
Data provided in the question:
Future value = $1,000
Rate of interest = 8%
NPER = 3 years
PMT = $1,000 × 10% = $100
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the price of the bond is $1,051.54
