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use calculator 9. Lastimar Inc. $1,000 par value corporate bonds were issued on January 1, 2016 and mature on January 1, 2046. The bonds offer

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9. Lastimar Inc. $1,000 par value corporate bonds were issued on January 1, 2016 and mature on January 1, 2046. The bonds offer a 7.5% coupon rate paid semiannually and are currently selling in the market for $950. What is the bond's yield to maturity on January 1, 2024? Submit your answer as a percentage rounded to two decimal places. (Hint: how many years are there to maturity?) 10. Consider a 17-year bond with face value $1.000 that pays a 9.3% coupon on an annual basis and has a yield-to-maturity of 6.8%. What is the approximate percentage change in the price of bond if interest rates in the economy are expected to increase by 1.20% over the next year? Submit your answer as a percentage and round to two decimal places. (Hint: What is the expected price of the bond before and after the change in interest rates?)

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