If a bond's coupon rate exceeds its yield to maturity, the bond is selling at ____________.

1. discount
2. par
3. premium

A 9%, $1,000 bond matures in 16 years, pays interest semi-annually, and hasa yield-to-maturity of 9.68%.What is the current market price?

1. $938.47
2. $945.23
3. $1,028.60
4. $1,108.19

A 6% annual coupon bond has a face value of $1,000, a market value of $1,012.40, and a yield-to-maturity of 5.87%.How many years is it until the bond matures?

1. 1.7.77 years
2. 7.84 years
3. 14.27 years
4. 14.39 years

Market interest rates and bond prices are __________.

1. unrelated
2. inversely related
3. directly related