Current yield is the compound average annual rate of return assuming that the bond will be called by the issuer at some point prior to the maturity date.\ \ For a given change in yield, long-term bond prices will change more than short-term bond prices.\ \ A bond consists of two types of cash flows: a perpetuity of the interest (coupon) payments and a periodic payment of the principal.\ \ Excel converts dates to a serial number that represents the number of days since January 1, 1800 (or January 1, 1804, on the Macintosh).\ \ All the answers are correct.