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

a. A 9.2%, 15-year bond priced to yield 6.8%.

b. A 7%, 10-year bond priced to yield 9.4%.

c. A 11.1%, 20-year bond priced at 8.7%.

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