Suppose a five-year, $1,000 bond with annual coupons has a price of $901.36 and a yield to maturity of 5.7%.What is the bond's coupon rate?

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Suppose a ten-year, $1,000 bond with an 8.1% coupon rate and semiannual coupons is trading for $1,035.98.

a. What is the bond's yield to maturity (expressed as an APR with semiannual compounding)?

b. If the bond's yield to maturity changes to 9.9% APR, what will be the bond's price?

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The yield to maturity of a $1,000 bond with a 7.1% coupon rate, semiannual coupons, and two years to maturity is 7.9% APR, compounded semiannually. What is itsprice?

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For each of the following pairs of Treasury securities (each with $1,000 par value), identify which will have the higher price:

a. A three-year zero-coupon bond or a five-year zero-coupon bond?

b. A three-year zero-coupon bond or a three-year 4% coupon bond?

c. A two-year 5% coupon bond or a two-year 6% coupon bond?