PS 23 Q1

The market price of a semi-annual pay bond is $993.87. It has 16.00 years to maturity and a coupon rate of 7.00%. Par value is $1,000. What is the yield to maturity?

Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))

Q2

Assume a par value of $1,000. Caspian Sea plans to issue a 17.00 year, semi-annual pay bond that has a coupon rate of 8.12%. If the yield to maturity for the bond is 7.66%, what will the price of the bond be?

Answer format: Currency: Round to: 2 decimal places.