answer clearly with formulas and avoid using shortcuts like excel or financial calculators

Q6) Langford Co. issued 14-year bonds a year ago at a coupon rate of 6.90%. The bonds make semiannual payments. If the YTM on these bonds is 5.20%, what is the current bond price? Answer: To find the price of this bond, we need to realize that the maturity of the bond is 13 years The bond was issued one year ago, with 14 years to maturity, so there are 13 years left on the bond. Also, the coupons are semiannual, so wo need to use the semiannual interest rate and the number of semiannual periods. The price of the bond is: Coupon payment (PMT) $1,000(069/2)=$34.50. Time to maturity (n)=132=26: Bond YTM=0.052/2=.026 P=$34.5(PVIFA205.20)+$1,000 (PVIF 2.0 P.2t 20) Bond Price (P)=