Question: please explain by steps, not Excel. thank you Question 13.09 Sally purchases a 20-year bond with semiannual coupons, redeemable at par, for a price of

please explain by steps, not Excel. thank you

Question 13.09 Sally purchases a 20-year bond with semiannual coupons, redeemable at par, for a price of 100,000. The annual effective yield rate is 5%, and the annual coupon rate is 4.95%. Calculate the redemption value of the bond. A 99,862 B 100,000 C 100,238 D 100,476 E 100,627

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