3. A Tesla coupon bond with a face value of $1,000 has a coupon rate of 6% with annual coupons and it will mature in 7 years. If it is currently trading at $1,154.3, what is its yield-to-maturity? Round to the tenth of a percent (e.g., 4.32% = 4.3) [Hint: Use Excel's "rate" function as explained in the text. Make sure you set the cell to show decimal places.]

4. An Apple annual coupon bond has a coupon rate of 7.0%, face value of $1,000, and 4 years to maturity. If its yield to maturity is 7.0%, what is its Macaulay Duration? Answer in years, rounded to three decimal places.

5. A T-bond with semi-annual coupons has a coupon rate of 7%, face value of $1,000, and 2 years to maturity. If its yield to maturity is 5%, what is its Macaulay Duration? Answer in years, rounded to three decimal places.