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1. What is the YTM of a bond with the following characteristics: Face value - $1,000; Current Price - $902; Coupon rate - 10%; Maturity

1. What is the YTM of a bond with the following characteristics: Face value - $1,000; Current Price - $902; Coupon rate - 10%; Maturity - 7 yrs.; Pays semi-annually.

2. What is the most you would pay for a bond with the following characteristics: Face value - $1,000; Coupon rate - 8%; Maturity - 5 yrs.; YTM - 6.5%.

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