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A 1000 par value 15-year bond has semiannual coupons of 60 each. This bond is callable at any of the last 10 coupon dates. Find

A 1000 par value 15-year bond has semiannual coupons of 60 each. This bond is callable at any of the last 10 coupon dates. Find the price an investor should pay to guarantee a semiannual yield rate of:

(a) 7%, (b) 5%, (c) 6%

the answers for (a),(b),(c) are 875.91, 1128.21, 1000.00 - Just want to know how to get these solutions

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