1. Raines Umbrella Corp. issued 30-year bonds four years ago with a coupon rate of 5.5 percent. If these bonds currently sell at a price of 98, what is their YTM?

1. How much money will it cost you to purchase a $50,000 Treasury bond from a bond dealer who quotes prices of 103:12 and 103:14?

1. You purchased a 7-year Treasury note at par value immediately after it was issued one year ago. The note has a coupon rate of 4 percent and a face value of $50,000. Today, similar bonds with similar maturities are being issued at par with a 5 percent coupon rate. You want to sell your bond. What should its price be?