16. A bond with 5 years to maturity is selling for $1,000 and has a yield to maturity of 4.50%. If this bond pays its coupon payments semi-annually and par value is $1,000, what is the bond's annual coupon rate?

A. 4.45%

B. 4.50% C. 4.89% D. 4.95% E. 5.12%

19. Acme Inc. just issued a bond with a $1,000 face value and a coupon rate of 7%. If the bond has a life of 30 years, pays semi-annual coupons, and the yield to maturity is 9%, what will the Acme, Inc. bond sell for? A. $434.95 B. $790.45 C. $793.62 D. $794.53 E. $894.56

20. What is the price of a five-year bond with a $1,000 face value and a 5.0% annual coupon rate that currently yields 7.0%? The bond pays annual coupons. A. $784 B. $897 C. $918 D. $1,000 E. $1,087