Gabriele Enterprises has bonds on the market making annual payments, with 15 years to maturity, a par value of $1,000, and selling for $940. At this price, the bonds yield 9.9 percent. What must the coupon rate be on the bonds?

The Moonlight Mile Corporation wants to issue $1,000,000 of new bonds that will pay semi-annual coupouns. Their bonds will have a coupon rate of 9% paid semiannually, will have 15 years to maturity, will have a par value of $1,000, and will be issued with a yield to maturity of 9.5%. How many bonds should Moonlight Mile sell in order to raise $1,000,000