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Determine the price of a $1.5 million bond issue under each of the following independent assumptions: Maturity 10 years, interest paid annually, stated rate 7%,

Determine the price of a $1.5 million bond issue under each of the following independent assumptions:

  1. Maturity 10 years, interest paid annually, stated rate 7%, effective (market) rate 9%.
  2. Maturity 10 years, interest paid semiannually, stated rate 7%, effective (market) rate 9%.
  3. Maturity 10 years, interest paid semiannually, stated rate 9%, effective (market) rate 7%.
  4. Maturity 20 years, interest paid semiannually, stated rate 9%, effective (market) rate 7%.
  5. Maturity 20 years, interest paid semiannually, stated rate 9%, effective (market) rate 9%.

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