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I need help with (a)(i). Please show all steps. The correct answer is 84.95

21 A 10% bond with face amount 100 is callable on any coupon date from 15%2 years after issue up to the maturity date which i
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The answer for above problem is explained below.

Anuual Yield Rete t0 face loo value Annual Interejt $10 TJ (OBy using Excel funchon, = Pv CRale, Npe, pmt, Fv) - PvC12, 20, - lo, -loo) $85.06 of the bond $85.06 PriceFunction Arguments X PV Rate 12% 0.12 Nper 20 20 Pmt -10 -10 Fv -100 -100 number Type 85.06111275 Returns the present value o

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