1. A zero coupon bond is trading at 70% of its par value. Assuming yield-to-maturity is 15% per year. What is the time to maturity?

A. 2.55 years

B. 4.15 years

C. 1.43 years

D. 3.38 years

E. 3.27 years

2. You are preparing to make monthly payments of $500, starting from the end of this month, into an account that pays 8 percent interest (APR). How many years of payments will you have made when your account balance reaches $9,312?

A. 1.47

B. 15.23

C. 28.66

D. 17.61

E. 59.24