Part 1. Value a bond that is $1,000 par, semi-annual coupon payments, 16 years to maturity, 9% coupon rate, and with an 9% required (market) rate.

Part 2. A stock pays annual, fixed dividends of $21 forever. The first dividend will occur one year later (i.e., at time node t = 1). Assuming a required rate of return of 8%, what is the value of the stock? Note: Show your answer in units of dollars, use plain numbers with at least two digits after the decimal (e.g., for $12,345.67, type 12345.67

Part 3. A stock pays dividends annually. It just paid a dividend of $6 that is expected to grow at a constant rate of 4% forever. Assuming a required rate of return of 11%, what is the value of the stock?

Part 4. With a 6% annual rate of return, compounded monthly, how much will you need to save every month to have $1,000,000 at age 65 if you begin saving at age 30?

Part 5. You currently earn $180,000 per year and plan to deposit 20% of your salary in a 401(k) account that you expect to earn 8% per year. You also expect that your salary will increase 3% per year. You plan to make a deposit to your account at the end of each year for the next 30 years, after which you will retire. How much money will you have in your account when you retire?