Using the information given below, find the clean-price the bond 2 months after the 10' coupon is paid. The clean-price is also called the market-price and it removes (via a linear method) the included interest. This removal allows comparison between different bonds. Term: 20 Years Yield Rate: 4.5% compounded semiannually Annual Coupon Rate: 2.5% payable semiannually Face Value: 1000 Redemption Value: Par or Face Value

The bond shown below can be called (i.e. redeemed at face value) immediately after the coupon payment starting with the 35th coupon payment. What is the maximum yield rate (annual rate compounded semiannually) for this bond? Term: 20 Years Yield Rate: 4.5% compounded semiannually Annual Coupon Rate: 2.5% payable semiannually Face Value: 1000 Redemption Value: Par or Face Value Give your answer as a percentage rounded to four places (i.e. X.XXXX%).