5. Valuing Bonds: Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a German company issues a bond with a par value of 1,000,25 years to maturity, and a coupon rate of 6.4 percent paid annually. If the yield to maturity is 7.6 percent, what is the current price of the bond? 6. Bond Yields: A Japanese company has a bond outstanding that sells for 87 percent of its 100,000 par value. The bond has a coupon rate of 4.3 percent paid annually and matures in 18 years. What is the yield to maturity of this bond? 7. Calculating Real Rates of Return If Treasury bills are currently paying 4.7 percent and the inflation rate is 2.3 percent, what is the approximate real rate of interest? The exact real rate? 8. Inflation and Nominal Returns Suppose the real rate is 2.7 percent and the inflation rate is 3.6 percent. What rate would you expect to see on a Treasury bill