Caspian Sea Drinks needs to raise $39.00 million by issuing bonds. It plans to issue a 16.00 year semi-annual pay bond that has a coupon rate of 5.02%. The yield to maturity on the bond is expected to be 4.81%. How many bonds must Caspian Sea issue? (Note: Your answer may not be a whole number. In reality, a company would not issue part of a bond.)

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#3

The market price of a semi-annual pay bond is $976.57. It has 23.00 years to maturity and a yield to maturity of 7.33%. What is the coupon rate?

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Answer format: Percentage Round to: 0 decimal places (Example: 9%, % sign required. Will accept decimal format rounded to 2 decimal places (ex: 0.09))

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#4

Derek borrows $319,301.00 to buy a house. He has a 30-year mortgage with a rate of 4.48%. After making 100.00 payments, how much does he owe on the mortgage?