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A 10% bond with face amount 100 is callable on any coupon date from 15 1/2 years after issue up to the maturity date which
A 10% bond with face amount 100 is callable on any coupon date from 15 1/2 years after issue up to the maturity date which is 20 years from issue.
a) Find the price of the bond to yield a minimum nominal annual rate of 12%, 10%, and 8%.
b) Find the minimum annual yield to maturity if the bond is purchased for 80, 100, and 120
Please answer without financial calculator or excel.
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