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A bond issued by L&T Infrastructure offers 5 % coupon payment paid annually on a face value of 1 0 0 and a yield of

A bond issued by L&T Infrastructure offers 5% coupon payment paid annually on a face value of 100 and a yield of 6% per annum. The term to maturity is 3 years. Find the price of the bond.
Coupon: 5(Periodic payments) at every year (specified time interval)
Maturity: 3 years (Time when the bond matures)
Face Value (FV): 100(Fixed amount payable at maturity)
Yield: 6%(Interest rate implied by the payment structure)

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