1. (Related to Checkpoint 9.3) (Bond valuation)Calculate the value of a bond that matures in

18 years and has a $1,000 par value. The annual coupon interest rate is 16 percent and the market's required yield to maturity on a comparable-risk bond is 11 percent.

The value of the bond is _____$nothing.

(Round to the nearest cent.)

2.Bond valuation)Enterprise, Inc. bonds have an annual coupon rate of 14 percent. The interest is paid semiannually and the bonds mature in 9 years. Their par value is $1,000. If the market's required yield to maturity on a comparable-risk bond is 11 percent, what is the value of the bond? What is its value if the interest is paid annually?

a. The value of the Enterprise bonds if the interest is paid semiannually is ____$nothing.

(Round to the nearest cent.)

3. (Related to Checkpoint 9.2)(Yield to maturity)The market price is

$1,125 for a 20-year bond ($1,000 par value) that pays 11 percent annual interest, but makes interest payments on a semiannual basis (5.5 percent semiannually). What is the bond's yield to maturity?

The bond's yield to maturity is ____nothing%.

(Round to two decimal places.)