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Posted before but answer was wrong. Looking for formula behind the work. Thanks The Florida Investment Fund buys bonds of the Gator Corporation through a

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Posted before but answer was wrong. Looking for formula behind the work.

Thanks

The Florida Investment Fund buys bonds of the Gator Corporation through a broker. The bonds pay 10 percent annual interest. The yield to maturity (market rate of interest) is 12 percent. The bonds have a 10-year maturity.Using an assumption of semiannual interest payments: (refer to "Semiannual Interest and Bond Prices" in Chapter 10 for review if necessary). Compute the price of a bond

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