25. Which of the following is true of discounting? A. It brings the future back to the present. B. It expresses the present in future terms. C. It is synonymous with compounding. D. It depends on the rate of interest. 26. If a $1,000 bond pays interest of $90 annually, matures in ten years, and costs $1,100, what is the approximate current yield? A. 8.20% B. 9.00% C. 9.60% D. 10.10% 27. Tangible assets such as land or antiques A. must be registered with the SEC or the Federal Reserve B. are less risky than federal government securities C. may be good investments in times of inflation D. may be good investments in time of deflation 28. Which of the following types of country risks includes the possibility of expropriation of assets, changes in tax policy, and restrictions on foreign exchange transactions? A. Default risk B. Exchange risk C. Market risk D. Political risk 29. TIPS offer investors inflation protection by increasing the each year. A. coupon rate B. par value C. yield to maturity D. par value and coupon payment