answer is

0.93809 of the first bond

0.97561 of the second bond

please do not use excel

Joe must pay liabilities of 1,000 due 6 months from now and another 1,000 due one year from now. There are two available investments: - a 6-month bond with face amount of 1,000 , a 8% nominal annual coupon rate convertible semiannually, and a 6% nominal annual yield rate convertible semiannually; and - a one-year bond with face amount of 1,000 , a 5% nominal annual coupon rate convertible semiannually, and a 7% nominal annual yield rate convertible semiannually. How much of each bond should Joe purchase in order to exactly (absolutely) match the liabilities