What is the price of a 1000 par value semi-annual bond with


1. What is the price of a $1,000 par value semi-annual bond with 24 years to maturity and a coupon rate of 10.8% and a yield-to-maturity of 9.9%?

(please show work/formula)

2. What is the price of a $1,000 par 14 year, annual bond with a 10.8% coupon rate and a yield to maturity of 8.2%?

(please show work/formula)

3. You bought a 16-year, 5% semi-annual coupon bond today and the current market rate of return is 6.7%. The bond is callable in 4 years with a $1077 call premium. What price did you pay for your bond?

(please show work/formula used)

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Financial Management: What is the price of a 1000 par value semi-annual bond with
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