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3. A two-year bond with par value $1,000 makes semiannual coupon payments at a coupon rate of 10%. The annualized YTM is 20% (10% per

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3. A two-year bond with par value $1,000 makes semiannual coupon payments at a coupon rate of 10%. The annualized YTM is 20% (10% per half-year) a) Find the bond's price today and six months from now after the next coupon is paid. b) What is the duration? c) What is the bond's price today if the annualized YTM is 10%

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