Question: PLEASE NO EXCEL!!! Problem 9. Matt purchased a 30-year par value bond with semi-annual coupons at a nominal annual rate of 10% convertible semi-annually. The

 PLEASE NO EXCEL!!! Problem 9. Matt purchased a 30-year par value

PLEASE NO EXCEL!!!

Problem 9. Matt purchased a 30-year par value bond with semi-annual coupons at a nominal annual rate of 10% convertible semi-annually. The bond was purchased at a price of 1895.12. The bond can be called at its par value X on any coupon date starting at the end of year 25 after the coupon is paid. The price guarantees that Matt will receive a nominal annual rate of interest convertible semi-annually of at least 8%. Calculate X. Problem 9. Matt purchased a 30-year par value bond with semi-annual coupons at a nominal annual rate of 10% convertible semi-annually. The bond was purchased at a price of 1895.12. The bond can be called at its par value X on any coupon date starting at the end of year 25 after the coupon is paid. The price guarantees that Matt will receive a nominal annual rate of interest convertible semi-annually of at least 8%. Calculate X

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