1. Find the value of a 10-year bond with a coupon rate of 8% and the required rate of 10%. Par value equals $1,000.

2. Find the value of the above bond assuming interest is paid every six months.

3. I can purchase a bond for $1,020. The par value of the bond is $1,000 with a remaining life of 5 years. If the annual coupon rate is 5% (to be paid annually), what is the bonds yield to maturity (required rate)?

4. What is the yield to maturity in the above question if interest is paid semiannually?

5. Find the value of a 5-year bond with a coupon rate of 7% and the required rate of 7%. Par value equals $1,000. The bond pays interest semiannually.