Calculate the purchase price of the following bonds. Indicate whether the bonds are priced at a discount, at par or at a premium. Give your answers in dollars and cents to the nearest cent.

	Face Value	Coupon Rate	Years to Maturity	Market Rate
a)	$100	r = 9%	5	j2 = 9%
b)	$1,000	r = 9.25%	9	j2 = 7.5%
c)	$10,000	r = 8.5%	21	j2 = 10.25%

Quoted coupon rates and market rates are nominal annual rates compounded semi-annually.

a)Price = $

This bond is priced at: a discount par a premium

b)Price = $

This bond is priced at: a discount par a premium

c)Price = $

This bond is priced at: a discount par a premium