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Assume a bond pays an annual coupon of 10%; has a par value of $1000; has 8 years to maturity. Its yield to maturity is 8%. The coupon stream has a present value than the principal repayment. A. none of these alternatives B. higher C. lower D. the same A 30-year, $100,000 annual-payment mortgage has a 6% annual percentage rate. We are considering refinancing since the new relevant annual interest rate is 4%. What is the approximate loan balance after 16 payments have been made (if paid as agreed)? A. $63,087 B. $65,392 C. $59,392 D. $67,527