Matthew purchases a $1000 par value 10-year bond with 8% semi-annual coupons bought to yield 6% convertible semi-annually.

After purchasing the bond, he discovers that he can reinvest semiannual coupon payments in a bank that pays interest at a nominal rate of 12% convertible monthly.

A) Show how much money the bond holder has at the end of 10 years when the bond is matured

B) Calculate the bondholders yield on his investment expressed as nominal rate of interest convertible semiannually.