1) Mid-States Utility Company sold a 10-year note with a 7 7/8% coupon and a par value of $1,000. If the note sold at a discount for $930, what was the implied yield-to-maturity to the nearest tenth of one percent? Assume interest is paid semiannually. a. 8.5% b. 8.7% c. 8.9% d. 9.4%

2) Discuss some of the ways that TVM has, is, or will affect your life--professionally and personally. After reading the text and assigned articles and actually working through some problems, have you gained any greater insights into financial challenges you face for yourself, your clients, or maybe even financial decisions made in/for your professional life?