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

a. A 9.2%,15-year bond priced to yield 7.4%.

b. A 6.5%, 10-year bond priced to yield 8.3%.

c. A 12.7%, 20-year bond priced at 10.9%.

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