6. An IOU agreement was made between two persons. For a face value of P100,000, it was agreed that the borrower will make 8 annual payments at a 10.50% interest rate. The first payment will be due at the end of the year. It was also agreed that 90% of the face value will be paid for redemption. What is the bond value if it yields at a rate of 12%? 7. From number 6, if the redemption value is the same as the face value, what would have been the value of the bond? 6. An IOU agreement was made between two persons. For a face value of P100,000, it was agreed that the borrower will make 8 annual payments at a 10.50% interest rate. The first payment will be due at the end of the year. It was also agreed that 90% of the face value will be paid for redemption. What is the bond value if it yields at a rate of 12%? 7. From number 6, if the redemption value is the same as the face value, what would have been the value of the bond?