Problem $9\mathrm{.}3$: Waco Industries recently issued $15-$year, $$1,000$ par value bonds that pay $5\mathrm{.}5$ percent annual interest and makes interest payments on an annual basis. The market price of the bond is $$900,$ and the market's required yield to maturity on a comparable$-$risk bond is $6$ percent. Use excel to solve and include excel formualas.

a$.$ Compute the bond's Yield to Maturity.

b$.$ Determine the value of the bond to you given the market's required yield to maturity on a comparable$-$risk bond.

c$.$ Should you purchase the bond?

a$.$

$\backslash$table$[[$Coupon rate,$],[$Years$,],[,],[$PV $($market price$),],[$Par $($FV$),],[$PMT$,],[$Nper$,],[$m$,],[$YTM$,]]$

b$.$

$\backslash$table$[[$Coupon rate,$],[$Years$,],[$YTM$,],[,],[$Par $($FV$),],[$PMT$,],[$Nper$,],[$m$,],[$PV $($Value$),]]$

Yield to maturity on a comparable bond