Please no excel or financial calculator solutions.

8. Joann buys coupons. She knows the a ten-year 10,000 floating rate par value bono a first five e coupons will be level at 6.5% for the first five years, and then increase by a factor of 1.04 every year. t least 7%per a. Fnd the price for this bond if she wants a yield rate of ar annum for the ten-year period. will at least 7 b. Find the amount of interest paid in the fifth coupon. c. Find the amount of principal in the fourth coupon