Using semiannual compounding, find the prices of the following bonds:

a. A 10.9%, 15-year bond priced to yield 9.39%.

b. A 5.5 %, 10-year bond priced to yield 7.1 %.

c. An 11.8 %, 20-year bond priced at 10.2 %.

Repeat the problem using annual compounding. Then comment on the differences you found in the prices of the bonds.