Question: please answer with handwritten formula work only, no spreadsheet/excel, thank you Problem 6. Mary purchased a 10-year par value bond with semiannual coupons at a

please answer with handwritten formula work only, no spreadsheet/excel, thank you

Problem 6. Mary purchased a 10-year par value bond with semiannual coupons at a nominal rate of 4% convertible semiannually at a price of 1021.50. The bond can be called at par value 1100 on any coupon date starting at the end of year 5. Find the nominal annual yield rate convertible semiannually that Mary could receive. Write your answer in detail

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