To answer questions, assume All else equal

13. A municipal bond must have a yield to maturity that is higher/lower/equal to the yield to maturity on a similar corporate bond.

14. An investment has a 3% rate which compounds quarterly, therefore it must have an EAR that higher than/lower than/equal to an investment that has a 1% rate which compounds monthly.

15. An investment has a 3% rate which compounds quarterly, therefore it must have an APR that higher than/lower than/equal to an investment that has a 1% rate which compounds monthly.

16. A stock that has a beta of 1.5 will have a risk premium that is higher than/lower than/equal to a stock that has a beta of 2.

17. A stock that has a beta of 1.5 will have a risk premium that is higher than/lower than/equal to the market risk premium.

18. A stock that has a growth rate of 4% must have a price that is higher than/lower than/equal to a stock that has a growth rate of 6%.

19. A stock that has a growth rate of 4% must have a price that is higher than/lower than/equal to a stock that is a perpetuity.

20. A bond that has a yield of 4% and a coupon rate of 5% must have price that is higher than/lower than a bond that has a yield of 5% and a coupon rate of 4%.