1. A semi-annual coupon bond with 10 years to maturity and 10% annual coupon rate. The annual market required interest rate is 8%. Assume the bond's face value is $1000. The bond price should be ______ .

2. A 6-year annual coupon bond with 5% coupon rate and $1000 face value is selling $975. What is the bond's yield to maturity at the current price ? ( use appropriate Excel function to solve the question.)

3. An annual coupon bond has coupon rate of 12% and 10 years to maturity. The current market yield for the bond is 12.5%. For a face value of $100,000, how much should be the bond price ?