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1) Renfro Rentals has issued bonds with a 10% coupon rate, which is payable semiannually. The bonds mature in 10 years, have a face value

1) Renfro Rentals has issued bonds with a 10% coupon rate, which is payable semiannually. The bonds mature in 10 years, have a face value of $1,000, and a yield to maturity of 9%. What is the price of the bonds?

2) Wilson Wonderss bonds have 10 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 10%. The bonds sell at $900. What is their yield to maturity?

Please share the formula with answers. (No Excel)

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