1. What is the YTM on a 4-year bond that pays $50 semiannually and has a current price of $1,087.52? Assume the face value is $1,000 and that there is exactly six months before the first interest payment.

2. A 7-year, 8% coupon bond pays interest semi-annually. The bond has a face value of $1,000. What is the price of this bond if the yield to maturity is 4.0%?

3. Find the price of a 15-year zero-coupon bond when the market required rate of return is 9% for a semiannual bond of similar risk.