A 25-year, $1,000 par value bond has an 8.5% annual payment coupon. The bond currently sells for $825. If the yield to maturity remains at its current rate, what will the price be 5 years from now?

a. $801.76 b. $843.52 c. $726.60 d. $835.17 e. $626.38

Moerdyk Corporation's bonds have a 15-year maturity, a 7.25% semiannual coupon, and a par value of $1,000. The going interest rate (r _d) is 5.30%, based on semiannual compounding. What is the bonds price?

	a.	$948.04
	b.	$1,200.05
	c.	$1,224.05
	d.	$1,500.06
	e.	$1,164.05