1) The 6 percent annual coupon bonds of IPO, Inc., are selling for $1,187. The bonds have a face value of $1,000 and mature in 11 years. What is the yield to maturity? A) 4.68 percent B) 3.70 percent C) 3.88 percent D) 4.71 percent E) 4.64 percent

2) One year ago, ShopFast issued 15-year annual bonds at par. The bonds had a coupon rate of 6.5 percent and had a face value of $1,000. Today, the applicable yield to maturity to ShopFasts bonds is 7%. What was the change in price in ShopFasts bonds from last year to today? A) -55.56t B) 51.94 C) -$43.73 D) 58.71 E) The bond price did not change.

3) WallStores needs to raise $2.8 million for expansion. The firm wants to raise this money by selling 20-year, zero-coupon bonds with a par value of $1,000. The market yield on similar bonds is 6.49 percent. How many bonds must the company sell to raise the money it needs? Assume annual compounding. A) 9,847 bonds B) 11,144 bonds C) 12,800 bonds D) 10,508 bonds E) 11,315 bonds