Q1. Consider a bond with a 8% annual coupon rate, 30 years to maturity and a par value of $1,000. This bond makes semiannual payments. If the yield to maturity is 8%, the current price is?

Q2. The AKS Steel Co. has bonds on the market making annual payments, with 20 years to maturity, and selling for $948. At this price, the bonds yield 10.5%. What must the coupon rate be on AKSs bonds?

Q3. Orange Corporation has bonds on the market with 21.5 years to maturity, a YTM of 8.6%, and a current price of $925. The bonds make semiannual payments. What must the coupon rate be on the bonds?