Question: please solve this problem without using Excel and show all steps. A ten-year 5% bond with semiannual coupons is purchased to yield 6% compounded semiannually.

please solve this problem without using Excel and show all steps.

A ten-year 5% bond with semiannual coupons is purchased to yield 6% compounded semiannually. The par value and redemption value are both $1,000. What is the book value of the bond six years after issue of the bond? [CAS 5/86 #15]

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