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1. A bond with a par value of $1000 makes semiannual coupon payments of $38. What is its coupon rate? 2. A semiannual coupon bond

1. A bond with a par value of $1000 makes semiannual coupon payments of $38. What is its coupon rate?

2. A semiannual coupon bond with face value of $1000 has a coupon rate of 6% and matures in 12 years. The market-determined discount rate on this bond is 11%. What is the price of the bond? Round to the penny.

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