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Please explain with steps by using formulas with work. 10. Bond Pricing. A 30 -year-maturity bond with face value of $1,000 makes semiannual coupon payments

image text in transcribed Please explain with steps by using formulas with work.

10. Bond Pricing. A 30 -year-maturity bond with face value of $1,000 makes semiannual coupon payments and has a coupon rate of 8%. What is the bond's yield to maturity if the bond is selling for: (\ LO62) a. $900 ? b. $1,000 ? c. $1,100

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