Bond valuation - Semiannual interest Find the value of a bond maturing in 10 years, with a $1,000 par value and a coupon interest rate of 11% ( 5.5% paid semiannually) if the required return on similar-risk bonds is 13% annual interest ( 6.5% paid semiannually). The present value of the bond is $ (Round to the nearest cent.) Yield to maturity The Salem Company bond currently sells for $669.43, has a coupon interest rate of 7% and a $1000 par value, pays interest annually, and has 18 years to maturity. a. Calculate the yield to maturity (YTM) on this bond. b. Explain the relationship that exists between the coupon interest rate and yield to maturity and the par value and market value of a bond