1 2 Spartans outstanding bonds have a $1,000 par value and they mature in 20 years. Their nominal yield to maturity is 9.00 percent, and they pay interest semiannually. The bonds sell at a price of $975.00. 3 4 5 a. What is the bond's coupon rate? 6 7 8 9 10 11 12 13 14 15 b. Next year the same bond with the coupon rate that you calculated in part a is selling for a nominal yield to maturity of 8.50 percent. 16 What is the price of that bond next year? 17 18 10