A bond portfolio example choosing between alternative investments A bond fund manager has 2 possible investment options. She has 0.5 million to invest and her investment horizon is 7 years. The first option is to invest in a debt instrument that pays an annual interest rate of 5.7% for the first four years and then reinvest the proceeds for three more years at an annual interest rate of 7.2%. The second option is to invest in a debt instrument that pays an annual interest rate of 6.1% compounded semiannually, for the full period. Which one should the manager choose and why? PLEASE SHOW BOTH HAND CALCULATIONS AND ALSO SHOW HOW TO DO ON FINANCIAL CALCULATOR!!!