Please explain the steps and details and mention formulas

(2 decimal places) - All interest rates are compounded semi-annually unless it specifically says otherwise!

4. value 25.00 points Piotr and Pournima each buy a bond with face value $8500 and a coupon rate of 8.85%. Piotr's bond matures In 10 years, and Pournima's bond matures in 17 years. The current Interest rate is 6.05%. a) How much does Piotr pay for his bond? b) How much does Pournima pay for her bond? C) The Interest rate changes to 12.149999999999999% Are the bonds worth more or less? d) If they both sell their bonds right away at the new Interest rate from C), who makes more or loses less) money? How much