3. All else constant, if the maturity of a bond increases, the value of the bond a. increases b. decreases c. remains the same d. not enough information 4. The market price of a semi-annual pay bond is $982.18. It has 15.00 years to maturity and a coupon rate of 6.00%. What is the yield to maturity? a. 2.08% b. 4.00% c. 6.18% d. 8.28% 5. Caspian Sea Drinks needs to raise $28.00 million by issuing bonds. It plans to issue a 16.00 year semi-annual pay bond that has a coupon rate of 5.15%. The yield to maturity on the bond is expected to be 4.74%. How many bonds must Caspian Sea issue? (Note: Your answer may not be a whole number. In reality, a company would not issue part of a bond.) a. 18236 b. 21290 c. 26779 d. 45937