Final answer:
Bond price information in the real world is used for buying and selling bonds. The present value calculation helps determine the bond price, which can be influenced by the interest rate and borrower's risk.
Step-by-step explanation:
In the 'real' world, bond price information is primarily used for buying and selling bonds. When the interest rate falls after a bond is issued, the bond will sell for more than its face value. Conversely, if the interest rate rises after a bond is issued, the bond will sell for less than its face value. The present value calculation is used to determine the price of a bond, which is the present value of a stream of future expected payments. Factors such as the riskiness of the borrower and loan repayment will also impact the bond price.