MT

11)What is the price of a 10-year bond paying an annual coupon rate of 9.8%, but paying it semiannually, per face (par) value of $1,000 if the annual market rates for these bonds are 11%? Answer to the nearest cent, xxx.xx and enter without the dollar sign.

12) You put aside $100,000 in year t = 0, and let it grow at 6.1% interest for 4 years. Exactly one year after that you start to withdraw your money for 3 years in equal amounts until it is exhausted. How much can you withdraw per year? Answer to the nearest cent, xxx.xx and enter without a dollar sign.