37. If you require a nominal annual rate of return of 12 percent, then how much should you be willing to pay for a $1,000 par value bond that pays interest of $50 semiannually and matures in 5 years? a. $635.98 b. $770.60 c. $854.29 d. $1,002.85 e. $926.41 38. A U.S. Treasury bill costs $966 per $1,000 in maturity value and will mature in six months. What is the APR provided by the bill? a. 3.4% b. 6.8% c. 9.1% d. 12% c. 12.2% 9. If a home buyer borrows $140,000 at 9%APR and agrees to repay the loan by making equal annual payments for the next 30 years, what is the amount of each payment? a. $1,126.47 b. $956.24 c. $1,453.31 d. $1,672.35 e. None of the above 40. One of the basic relationships in interest rate theory is that for a given change in yield to maturity, the the time to maturity, the the change in price. a. longer, smaller b. shorter, greater c. shorter, smaller d. longer, weaker e. none of the above