Your parents have made you two offers. The first offer includes annual gifts of $$5,000,$ $$6,000,$ and $$8,000$ at the end of each of the next three years, respectively. The other offer is the payment of one lump sum amount today. You are trying to decide which offer to accept given the fact that your discount rate is $6\mathrm{.}2$ percent. What is the minimum amount that you will accept today if you are to select the lump sum offer?

McConnell Corporation has bonds on the market with $17\mathrm{.}5$ years to maturity, a YTM of $6\mathrm{.}4$ percent, a par value of $$1,000,$ and a current price of $$1,037.$ The bonds make semiannual payments. What must the coupon rate be on these bonds?

Do$-$Well bonds have a face value of $$1,000$ and are currently quoted at $86\mathrm{.}725.$ The bonds have coupon rate of $6\mathrm{.}5$ percent. What is the current yield on these bonds?