a. A 2-year bond with face value of Ghc 1,000,000 is issued with a 20% coupon rate when the market interest rate is 25%. Interest to be paid semi-annually. What is the price of the bond?.
b. A 3-year bond with face value of Ghc 1,000,000 is issued with a 12% coupon rate and a market yield of 10%. If interest to be paid semi-annually, what is the price of this bond?