Exercise $14-2($Algo$)$ Determine the price of bonds in various situations $[$LO$14-2]$

Determine the price of a $$1\mathrm{.}5$ million bond issue under each of the following independent assumptions:

Maturity $10$ years, interest paid annually, stated rate $4\%,$ effective $($market$)$ rate $6\%.$

Maturity $10$ years, interest paid semiannually, stated rate $4\%,$ effective $($market$)$ rate $6\%.$

Maturity $10$ years, interest paid semiannually, stated rate $6\%,$ effective $($market$)$ rate $4\%.$

Maturity $20$ years, interest paid semiannually, stated rate $6\%,$ effective $($market$)$ rate $4\%.$

Maturity $20$ years, interest paid semiannually, stated rate $6\%,$ effective $($market$)$ rate $6\%.$

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1.)$

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Maturity $10$ years, interest paid annually, stated rate $4\%,$ effective $($market$)$ rate $6\%.$

Note: Round your answer to the nearest whole dollar.

Price of bonds