Question: please explain all steps and write out details 20. Find the current yield of a 20-year bond, 8% quarterly coupon payment, Y a 20-year bond,

 please explain all steps and write out details 20. Find the

please explain all steps and write out details

20. Find the current yield of a 20-year bond, 8% quarterly coupon payment, Y a 20-year bond, 8% quarterly coupon payment, YTM of 9% and has a face value of $1,000. 21. A 3-years security has annual coupon of 7%. The interest rates in years 1, 2 and 3 respectively are: 4%, 6% and 5%. What is this bond price, per $1000 par? 22. A 15-year. $1,000 par value bond has an 8.5% semi-annual payment coupon. The bond currently sells for $980. If the yield to maturity remains at its current rate, what will the price be 5 years from now

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