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Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 21 years Coupon rate: 9 percent Semiannual payments Calculate the price

Microhard has issued a bond with the following characteristics:

Par: $1,000

Time to maturity: 21 years

Coupon rate: 9 percent

Semiannual payments

Calculate the price of this bond if the YTM is:

Price of the Bond

a. 9 percent $

b. 12 percent $

c. 6 percent $

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