Derek plans to buy a $26,453.00 car. The dealership offers zero percent financing for 49.00 months with the first payment due at signing (today). Derek would be willing to pay for the car in full today if the dealership offers him $____ cash back. He can borrow money from his bank at an interest rate of 4.59%.

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#21

Assume a par value of $1,000. Caspian Sea plans to issue a 14.00 year, semi-annual pay bond that has a coupon rate of 8.11%. If the yield to maturity for the bond is 7.81%, what will the price of the bond be?

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#22

Assume a par value of $1,000. Caspian Sea plans to issue a 18.00 year, annual pay bond that has a coupon rate of 8.00%. If the yield to maturity for the bond is 7.84%, what will the price of the bond be?

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#23

Assume a par value of $1,000. Caspian Sea plans to issue a 11.00 year, semi-annual pay bond that has a coupon rate of 7.99%. If the yield to maturity for the bond is 8.23%, what will the price of the bond be?

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