Question $2$

A $30-$year bond yields $$ convertible semiannually. Coupons are paid semiannually at $$ per

annum. The bond is redeemed at $90\%$ of par value at maturity. If the purchase price is $$8,000,$

what is the par value of the bond?

$($alpha $=\mathrm{.}10$ ; beta $=\mathrm{.}048)$