Question: Please help me to answer this question step by step, thanks. The answer is (a) 926.03, (b) 8.9%. Problem 53.9 I Using the table of

Please help me to answer this question step by step, thanks.

The answer is (a) 926.03, (b) 8.9%.

Problem 53.9 I Using the table of the previous problem, find (a) the current price of a $1000 3-year bond with coupon rate 6% payable annually. (b) the annual effective yield rate for the bond if the bond is sold at a price equal to its value. Problem 53.9 I Using the table of the previous problem, find (a) the current price of a $1000 3-year bond with coupon rate 6% payable annually. (b) the annual effective yield rate for the bond if the bond is sold at a price equal to its value

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