Question: Please show step by step soltuion. Explain every step Problem # 1 : A bond issued on February 1 , 2 0 0 4 with

Please show step by step soltuion. Explain every step
Problem # 1: A bond issued on February 1,2004 with face value of $28200 has semiannual coupons of 7%, and can be
redeemed for par (face value) on February 1,2022. What is the accrued interest and the market price (the "clean"
price) of the bond on November 15,2006, if the bond's yield on that date is to be 8%?(use actual/actual for
accrued interest).
 Please show step by step soltuion. Explain every step Problem #

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