Question: Please provide step by step instructions and if you can not answer the second question please just lead me in the right direction! 1. Find

Please provide step by step instructions and if you can not answer the second question please just lead me in the right direction!

1. Find the value of the following bond:

Par value: $1,000

Coupon rate: 7%

Maturity: 3 years

Required rate (YTM): 5%

2. Find the value of the above bond assuming interest is paid quarterly.

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