Bond principal	time to maturity	annual coupon	bond price
100	0.5	0.0	98
100	1.0	0.0	95
100	1.5	6.2	101
100	2.0	8.0	104

The following table gives the prices of bonds: *Half the stated coupon is paid every six months.

1. What are the 6-month, 12-month, 18-month, and 24-month par yields for bonds that provide semiannual coupon payments? (Hint: The Par yield for a certain bond maturity is the coupon rate that causes the bond price to equal its principal.)