6. You're considering buying a bond issued by Tesla, Inc. which has a par value of $1,000. The bond would pay you six annual coupons of $120 each, with the first coupon payment occurring a year from today. The bond matures six years from today, at which time you would receive the par value payment of $1,000 in addition to the last coupon payment. If the market currently demands a rate of return interest rate or yield-to-maturity) of 7% from bonds with this level of risk and maturity, what is the market price of the bond today? Hint: The market price is just the present value of all the payments. 7. Frankie Figs just turned 55 years old today. He plans to retire in 10 years. He currently has $500,000 in his pension account. During retirement, he plans to withdraw $120,000 per year from his pension account, with the first withdrawal occurring on his 65th birthday and the last withdrawal occurring on his 84th birthday. Frankie plans to make 10 equal, annual deposits into his pension account between now and retirement, with the first deposit occurring today (his 55th birthday) and the last deposit occurring on his 64th birthday. What does this annual deposit need to be if his pension fund earns a fixed rate of interest of 5% per year? Use Goalseek to find the solution. 8. If you deposit $20,000 today, First Bank of Boson promises to pay you $40,000 ten years from today. What is the annual interest rate on this investment