1) Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a German company issues a bond with a par value of 1,000, 10 years to maturity, and a coupon rate of 7.6 percent paid annually. If the yield to maturity is 8.7 percent, what is the current price of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

2) A Japanese company has a bond outstanding that sells for 91 percent of its 100,000 par value. The bond has a coupon rate of 5 percent paid annually and matures in 12 years. What is the yield to maturity of this bond? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

3) Essary Enterprises has bonds on the market making annual payments, with ten years to maturity, a par value of $1,000, and selling for $956. At this price, the bonds yield 6.3 percent. What must the coupon rate be on the bonds? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

4) Treasury bills are currently paying 7 percent and the inflation rate is 3.2 percent. What is the approximate real rate of interest? (Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) What is the exact real rate?

5) Bourdon Software has 12 percent coupon bonds on the market with 16 years to maturity. The bonds make semiannual payments and currently sell for 108.8 percent of par. What is the current yield on the bonds? What is the YTM? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) What is the effective annual yield? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

6) Shinoda Corp. has 10 percent coupon bonds making annual payments with a YTM of 9.3 percent. The current yield on these bonds is 9.65 percent. How many years do these bonds have left until they mature? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)