Question: please explain by steps, not Excel. thank you Question 13.05 An n-year bond has the following characteristics: Coupons are paid semiannually. Par value is 1,000.

please explain by steps, not Excel. thank you

Question 13.05 An n-year bond has the following characteristics: Coupons are paid semiannually. Par value is 1,000. The ratio of the semiannual coupon rater to the semiannual yield rate i is 1.25. The present value of the redemption value is 543. 1 Given that = 0.7026, calculate the price of the bond. 1+1 A 914.75 B 1,000.00 C 1,080.03 D 1,160.06 n E 1,175.94

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