The market price of a semi-annual pay bond is $953.89. It has 16.00 years to maturity and a coupon rate of 6.00%. Par value is $1,000. What is the effective annual yield?

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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))

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#2

Assume a par value of $1,000. Caspian Sea plans to issue a 12.00 year, semi-annual pay bond that has a coupon rate of 7.92%. If the yield to maturity for the bond is 8.15%, what will the price of the bond be?

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