Question: use Excel to do the calculations 1. (25 points) Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 20 years

use Excel to do the calculations

use Excel to do the calculations 1. (25 points) Microhard has issued

1. (25 points) Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 20 years Coupon rate: 8 percent Semiannual payments Calculate the price of this bond if the YTM is: a. 10 percent b. 8 percent c. 6 percent Note: Bond yields are quoted as annual percentage rates (APR). For part a, use 3 methods to calculate the bond price: 1. PV of future cash flows; 2. Bond price formula; 3. Excel built-in function "PRICE. For parts b and c, choose your favorite method and calculate the bond price

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