Question: Complete in Excel - please show steps, formulas written out, and how those formulas were inputted into Excel Suppose you are looking at a bond

Complete in Excel - please show steps, formulas written out, and how those formulas were inputted into Excel

Suppose you are looking at a bond that has a 10% annual coupon (interest is paid annually) and a par (face) value of $1000. There are 3 years to maturity and the yield to maturity is 9%.

1a. What is the price of this bond?

1b. Does the bond sell for a premium or discount? Explain your answer.

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