Answer:
Price of bond is = $ 1057
Explanation:
As we know that;
Price of bond = C * [1-(1+r)∧-n] / r  +  F / (1+r)∧n
where C = periodic coupon payment = 1000 * 6%= 60
     F = Face value of bond = 1000
    r = yield to maturity = 5% = 0.05
    n = number of periods till maturity = 7 years
     Putting values;
       = 60 * [ 1- (1+ 0.05)∧-7 ]/ 0.05  +  1000 / (1+0.05)∧7
       = 60 * (0.2893 / 0.05) +  710
       =  60 * 5.786 +  710
       =  347.16 +710
       =  1057
