One year ago, Kris Kringle Corporation issued $1,000 face value bonds with a 3 percent annual coupon. When they were issued the bonds had a 15 year maturity. What is the price of the bonds today if the yield to maturity is now 4 percent? a) $802.44 less b) $802.44 more c) $549.66 less d) $549.66 more e) $356.64 more The Road Runner Co. is increasing its annual dividend, paid in one year from today, to $2.50. The firm is setting a policy for the dividend to increase by one percent annually thereafter. How much will one share of this stock be worth four years from now if the required rate of return is 12% ? a) $20.61 b) $23.18 c) \$23.42 d) $23.65 e) \$23.89 You are buying a condo today at a price of $412,000, and are paying $132,000 down in cash. You are financing the balance at 6% annual percentage rate with monthly payments for 25 years. What is the approximate amount of each loan payment? a) $2,618 b) $2,010 c) $1,848 d) $1,804 e) $1,800