Using semiannualcompounding, find the prices of the followingbonds:

a. A 10.4%, 15-year bond priced to yield 8.1%.

b. A 5.5%, 10-year bond priced to yield 7.8%.

c. A 11.4%, 20-year bond priced at 9.1%.

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