A 22-year, $1,000 par value bond has an 9.00% annual coupon. The bond currently sells for $760. If the yield to maturity remains at its current rate, what will the price be 4 years from now?

	A.	900.00
	B.	772.15
	C.	760.00
	D.	1217.60

If 10-year T-bonds have a yield of 5.0%, 10-year corporate bonds yield 9.5%, the maturity risk premium on all 10-year bonds is 2.0%, and corporate bonds have a 0.2% liquidity premium versus a zero liquidity premium for T-bonds, what is the default risk premium on the corporate bond?

	A.	2.10%
	B.	4.50%
	C.	4.30%
	D.	2.30%

Moerdyk Corporations bonds have a 10-year maturity, a 4.50% semiannual coupon, and a par value of $1,000. The going interest rate (r_d) is 3.50%, based on semiannual compounding. What is the bonds price?

	A.	1050.55
	B.	1000
	C.	1115.49
	D.	1083.76

Garvin Enterprises bonds currently sell for $1,200. They have a 5-year maturity, an annual coupon of $105, and a par value of $1,000. What is their current yield?

	A.	4.00%
	B.	8.75%
	C.	10.50%
	D.	12.00%

What is the semiannual coupon payment for a 12% bond with a $1,000 par?

	A.	12
	B.	120
	C.	240
	D.	60

Consider some bonds with one annual coupon payment of 8.00%. The bonds have a par value of $1,000, a current price of $1,020, and they will mature in 15 years. What is the yield to maturity on these bonds?

	A.	7.77%
	B.	8.00%
	C.	7.84%
	D.	6.95%

McCue Inc.s bonds currently sell for $1,010. They pay a $130 annual coupon, have a 12-year maturity and a $1,000 par value, but they can be called in 3 years at $1,070. Assume that no costs other than the call premium would be incurred to call and refund the bonds, and also assume that the yield curve is horizontal, with rates expected to remain at current levels into the future. What is the difference between this bonds YTM and its YTC? (Subtract the YTC from the YTM.)

	A.	2.53%
	B.	1.76%
	C.	1.36%
	D.	2.00%