1. Bond A has a coupon rate of 9.39 percent, a yield-to-maturity of 12.32 percent, and a face value of 1,000 dollars; matures in 13 years; and pays coupons annually with the next coupon expected in 1 year.What is (X + Y + Z) if X is the present value of any coupon payments expected to be made in 6 years from today, Y is the present value of any coupon payments expected to be made in 8 years from today, and Z is the present value of any coupon payments expected to be made in 15 years from today?
2. Cy owns investment A and 1 bond B.The total value of his holdings is 1,367 dollars.Bond B has a coupon rate of 4.52 percent, par value of $1000, YTM of 8.82 percent, 21 years until maturity, and semi-annual coupons with the next coupon due in 6 months.Investment A is expected to produce annual cash flows forever.The next cash flow is expected to be 96.13 dollars in 1 year, and subsequent annual cash flows are expected to increase by 4.23 percent each year forever.What is the expected return for investment A?Answer as a rate in decimal format so that 12.34% would be entered as .1234 and 0.98% would be entered as .0098.

3) Bond A pays annual coupons, pays its next coupon in 1 year, matures in 13 years, and has a face value of 1,000 dollars.Bond B pays semi-annual coupons, pays its next coupon in 6 months, matures in 13 years, and has a face value of 1,000 dollars.The two bonds have the same yield-to-maturity.Bond A has a coupon rate of 5.24 percent and is priced at 1,016.85 dollars.Bond B has a coupon rate of 6.08 percent.What is the price of bond B?