2. (a) Find the price of the bonds or debentures given V = 100 and r, i, and n as stated.
(i) 20 years to maturity, interest at 10% p.a. to yield 11% p.a.
My attempt at a solution is as follows:
Though apparently I'm wrong since the correct answer is listed as . Why am I getting a different answer? Almost none of my answers are the same as those on the answer page, as I am always off by quite a few cents. The only thing I can think of is that the values given above aren't actually the values supposed to be subbed in, and that I need to perform some other calculations in order to get such values.