A 12-year bond has a 9 percent annual coupon, a yield to maturity of 8 percent, and a face value of $1,000. What is the price of the bond? Inputs: N = 12 * 1 . I = 8 / 1 . PMT = ( Par Value * The coupon rate) / F = ( 1000 * 0.09 ) / 1 = 90. FV= 1000 . Financial calculator solution Output: Price= PV= $1,075.36