Compute the price of a 6.25 percent coupon bond with 15 years left to maturity and a market interest rate of 5 percent. The bond was sold at a par…

1. Compute the price of a 6.25 percent coupon bond with 15 years left to maturity and a market interest rate of 5 percent. The bond was sold at a par value of $1000. Assuming the interest payments are semi-annual is this a discount or premium bond?