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  3. each of the following bonds has a $100 par value.

Each of the following bonds has a $100 par value. Bond Coupon interest rate (%p.a.)...

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Each of the following bonds has a $100 par value. Bond Coupon interest rate (%p.a.) 4.25 Coupon payment Years to maturity Yield to maturity (%p.a.) 3.50 X 15 Annual Semi-annual Y 2.10 15 3.50 a) Calculate the value of Bond X b) Calculate the value of Bond Y c) Which bond has the higher interest rate risk and why

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