What is the yield to maturity for the following bonds? Assume these are bonds issued in the U.S. Use the Excel RATE function to solve.

(a)

10 years to maturity, 6% coupon rate, current price is $950. (Round answer to 2 decimal places, e.g. 52.75.)

Yield to maturity

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(b)

16 years to maturity, 0% coupon rate, current price is $339. (Round answer to 2 decimal places, e.g. 52.75.)

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(c)

25 years to maturity, 8.5% coupon rate, current price is $1,030. (Round answer to 2 decimal places, e.g. 52.75.)

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