Determine the price of a $1 million bond issue under each of the following independent assumptions:
Maturity Interest Paid Stated Rate Market Rate
1. 10 years annually 10% 12%
2. 10 years semiannually 10% 12%
3. 10 years semiannually 12% 10%
4. 20 years semiannually 12% 10%
5. 20 years semiannually 12% 12%