1. If the quoted price of a corporate bond is 105, that means the bond price is

a. $105 b. $1050 c. $1105 d. $995

2. The present value of $1000 to be received in 5 years is if the discount rate is 12.78%

a. $368 b. $494 c. $548 d. $687

3. At what rate must $287.50 be compounded annually for it to grow to $$650.01 in 14 years? a. 6 percent b. 5 percent c. 7 percent d. 8 percent