1.You borrow $15,000 in order to purchase a car, and agree to pay $365 each month for the next 4 years. What is the yield to maturity for this loan?

2.Calculate the yield-to-maturity for a zero-coupon bond that sells for $855 and is redeemed for $1,000 in 9 years.

3. Calculate the modified duration for a 8-year bond that pays a 5.6% annual coupon and has a YTM of 6.0%.

4. Approximate the convexity of a 9.5% semiannual coupon bond with $1,000 face value and 9 years to maturity. Assume the current yield to maturity is 8.7%.

Note: use four decimal places for all intermediate values to avoid rounding error.