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Assume that 10 years ago you purchased a $1,000 bond for $845. The bond pays 6.50 percent interest and will mature this year. (a) Calculate

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Assume that 10 years ago you purchased a $1,000 bond for $845. The bond pays 6.50 percent interest and will mature this year. (a) Calculate the current yield on your bond investment at the time of the purchase. (Enter your answer as a percent rounded to 2 decimal places.) Current yield 7.69% (b) Determine the yield to maturity on your bond investment at the time of purchase. (Enter your answer as a percent rounded to 2 decimal places.) Yield to maturity 8.90 %

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