no need

Since the yield is given with continuous compounding, the usual formulas will not work without changing the yield to the equivalent discrete frequency. Instead, string out the cash flows (each of the coupons separately plus the final redemption value) in the columns of a spreadsheet similar to the one shown here. Each row will compute the bond price at a different point in time: C D Frequency - m Face your face value> Coupon rate your coupon rate> Yield cyour yield> Redemption value Coupon 1 Coupon 2 Coupon 3 etc... =C3 Time of payment Time of payment 1.5 etc... Time of payment your maturity Value Time by month Value value Time of payment 0.5 Bond value Value =sum all cells to the right sum all cells to the right -sum all cells to the right 0.08333 0.16667 0.25000 0.33333 Each cell in the table is the above cash flow valued at the time in column B for that row. If the time of payment is less than the time in column B, the value is zero, otherwise discount the cash flow back to the time given in column B for that row 19 Since the yield is given with continuous compounding, the usual formulas will not work without changing the yield to the equivalent discrete frequency. Instead, string out the cash flows (each of the coupons separately plus the final redemption value) in the columns of a spreadsheet similar to the one shown here. Each row will compute the bond price at a different point in time: C D Frequency - m Face your face value> Coupon rate your coupon rate> Yield cyour yield> Redemption value Coupon 1 Coupon 2 Coupon 3 etc... =C3 Time of payment Time of payment 1.5 etc... Time of payment your maturity Value Time by month Value value Time of payment 0.5 Bond value Value =sum all cells to the right sum all cells to the right -sum all cells to the right 0.08333 0.16667 0.25000 0.33333 Each cell in the table is the above cash flow valued at the time in column B for that row. If the time of payment is less than the time in column B, the value is zero, otherwise discount the cash flow back to the time given in column B for that row 19