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Suppose that 6 - month, 1 2 - month, 1 8 - month, and 2 4 - month zero rates are 3 % , 3

Suppose that 6-month, 12-month, 18-month, and 24-month zero rates are 3%,3.2%,3.5%, and 3.8% per annum with continuous compounding respectively. Estimate the cash price of a bond with a face value of 100 that will mature in 24 months and pays a coupon of 4% per annu semiannually.

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