A $1000 8% half-yearly bond is purchased at an unknown price. What is the quarterly interest received in each quarter? b) Assuming that the quarterly yield is 5%, what is the present value of all the interest payments in the first three years (after the receipt of the 6th payment?) [Remember that bond yield rate is the return-on investment per interest period]. c) If the bond was sold after 3 years at $1500 to give a quarterly yield of 5%, how much was it purchased for? [Assume the purchase price is X. write a symbolic equation that can be solved to determine the value of X. [Reminder: bond yield rate is the return-on investment per interest period].