A bond has a par value of $1,000, 11 years to maturity, and a coupon rate of 5 percent paid annually. What is the value of the bond if the market rate is 9 percent? What would the bond value be if the market rate was 8.5% with 15 years to maturity? Par = 1000 N = 11 Cr= 5% Mp = ? Ytm = 9% Pmt = 50 ytm: n=11, i/y=9, pv=?, pmt=50, fv-1000 mp = $727.79 ytm: n=15, i/y=8.5, pv=?, pmt-50, fv-1000 Mp = $709.35