Question: Please solve using formula, NOT EXCEL Mina purchases a 7% 22-year callable bond with face value F that pays semiannual coupons. The bond can be

Please solve using formula, NOT EXCEL

Please solve using formula, NOT EXCEL Mina purchases a 7% 22-year callable

Mina purchases a 7% 22-year callable bond with face value F that pays semiannual coupons. The bond can be called for par at any coupon date starting at the end of year 18. Mina pays a price of 2661.87, which guarantees her a nominal seminannual yield of at least 5\%. Lucy purchases a 22-year bond identical to the one Mina purchased except it is not callable. If Lucy's bond has a semiannual yield of 5%, how much did she pay for it

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