Q12: Find X for "The APR of this investment is X compounded semi-annually," if the associated EAIR (EAR) is 11.1 percent. Hint: Note that r in this case = APR/2. Plug APR/2 into the EAIR equation. Solve for APR, then X = APR. (Do not round intermediate calculations and do not enter your answer as a percent. Round your answer to 3 decimal places, e.g., 0.315 instead of 31.5%.)

The remaining questions are all about bonds that pay half of their coupons every 6 months.

Q15: Facebook has just issued its first bond. Its a 10 year issue with $1,000 face value and a 4% coupon rate. What is the r for this bond? Hint, r is in time units of 6 months, with semi-annual compounding. (Do not round intermediate calculations and do not enter your answer as a percent. Round your answer to 3 decimal places, e.g., 0.315 instead of 31.5%.)