You buy a bond for $925.80. The bond has 22 years to maturity, makes two payments per year at a coupon rate of 5.1%, and has a par value of $1,000. Given the price you've paid for the bond, what is the Yield To Maturity (YTM) you'll earn on the bond if you hold it to maturity? (Hint: Use the RATE function)

Question 4 options:

a)	5.1%
b)	2.85%
c)	5.7%
d)	Some other rate

You buy a bond for $1024.75. The bond has 20 years to maturity, makes two payments per year at a coupon rate of 4.5%, and has a par value of $1,000. However, the bond is callable after 10 years, and if called pays a 'call premium' equal to a single interest payment. Given the price you've paid for the bond, what is the Yield To Call (YTC) you'll earn on the bond if you hold it to the call date? (Hint: Use the RATE function)

Question 5 options:

a)	4.19%
b)	4.37%
c)	Some other rate.
d)	4.38%