Question: Please help with part b and c. I would love a formula and step by step of how to do this question. A 11-year, $1000

Please help with part b and c. I would love a formulaPlease help with part b and c. I would love a formula and step by step of how to do this question.

A 11-year, $1000 face value bond makes annual payments and has a coupon rate of 5.9 percent. If the current yield on the bond is 6 percent, what is the bond's price? Your response Correct response 983.33 983.33+0.01 Auto graded Grade: 1/1.0 1.0x1/1 = 1.00 Suppose that a year from now the bond sells at a yield to maturity of 5.1 percent. What is the price of the bond? Enter your answer rounded to two decimal places. Your response Correct response 1,061.47+2 Auto graded Grade: 0/1.0 X 0.0x1/1 = 0.00 What is your rate of return if you purchase the bond for $983.33, hold it for a year, and then sell it for $1,061.47? Enter your answer as percentage rounded to 2 decimal places. Do not enter the percentage sign. Your response Correct response 13.950.01 Auto graded Grade: 0/1.0

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