1)What is the price of a bond if the par value is $1000, the coupon rate is 5%(paid semi-annually), has 20 years to maturity and the market rate (yield to maturity per annum) is 8%?

A. $683.11 B. $703.11 C. $813.11 D. $923.11 E. 1063.11

2) What is the coupon rate of a bond with a par value of $1000, it is currently selling for $800, has 15 years to maturity and the market rate (yield to maturity) is 10% per annum? Assume the coupon payments are made monthly.

A. 6.66% B 7.77% C. 8.88% D 9.99% E 10.10%