Question: *I am also not using a financial calculator so could you explain the formula a little more?* A 10-year maturity bond with par value of

*I am also not using a financial calculator so could you explain the formula a little more?*

A 10-year maturity bond with par value of $1,000 makes semiannual coupon payments at a coupon rate of 8%. Find the bond equivalent and effective annual yield to maturity of the bond for the following bond prices.

Bond Prices Bond Equivalent Annual Yield to Maturity Effective Annual Yield to Maturity
a. $950 % %
b. $1,000 % %
c. $1,050 % %

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