Question: Please do not use excel, I need a written solution 5-27. A 10-year par-value bond of 1000 face amount has annual coupons which start at

Please do not use excel, I need a written solution

5-27. A 10-year par-value bond of 1000 face amount has annual coupons which start at 200 and decrease by 20 each year to a final coupon of 20. (a) Find the price to yield 12% per year. (b) Find the yield rate if the bond is purchased at its face value. lice

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