you are valued in as a financial analyst to appraise the bonds of olsen's clothing stores. the $1,000 par value bonds have a quoted annual interest rate if 9 percent which is paid semiannually. The yield to maturity on the bonds is 12 percent annual interest. There are 10 years to maturity. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods .

a. Compute the bond price of the bonds on semiannual analysis. Bond Price=

b. With 5 years to maturity if yield to maturity goes down substantially to 10 percent, what will be the new price of the bonds? New bond price=