Question: please explain by steps, not Excel. thank you Question 13.06 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 13.06 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 price of the bond is 1,225. 1 Given that = 0.7026, calculate the redemption value of the bond. A 1,199.36 B 1,204.38 C 1,209.40 D 1,214.42 E 1,225.00

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