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Answer to (a)Using the same excel formula from P6-20, we can calculate the priceBondCouponCouponTime toYield toRateFrequencyMaturityMaturityPar-ValueBond ValueA6%1512%1000($783.71)B14%1512%1000($1,072.10)Answer to (b)a) Bond ANumber of Bonds = $20,000 / $783.71 = 25.52 of Bond AMark could purchase 25 of Bond Ab) Bond BNumber of Bonds = $20,000 / $1,072.10 = 18.66 of Bond BAnswer to (c)*note: pretending that Mark can purchase a fraction of the bond (while he really can’t)a) Interest Income of A = 25.52 (6%*1000) = $1,531.17b) Interest Income of B = 18.66 (14%*1000) = $2,611.71Answer to (d)Answer to (e)
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