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PLEASE SOLVE BY deriving hands on, NOT EXCEL ! Thank You ! 2. (15 each) If a $1,000 bond, paying 8% (2) and called at

PLEASE SOLVE BY deriving hands on, NOT EXCEL ! Thank You !

2. (15 each) If a $1,000 bond, paying 8% (2) and called at 103 on 10/7/12, is quoted at $950 on 4/1/05. For both parts, you are NOT to find the actual yield to maturity.

a. Set up formula that finds the yield to maturity (YTM) using DCB 30/360.

b. Set up formula that finds the yield to maturity (YTM) using DCB Actual/360.

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