1. Bond A pays $100 per year. Bond B has a coupon rate of 10%. All else, equal, which bond will have the lower price?

2. Bond A is a convertible bond. Bond B is a callable bond. All else equal, which bond will have a higher coupon rate?

3. Bond A is an unsecured bond. Bond B is a secured bond. All else equal, which bond will have a higher coupon rate?

4. Credit Card A compounds daily. Credit Card B compounds monthly. Both credit cards have an APR of

25%. Which credit card do you prefer?