1. You just purchased a bond that matures in 5 years. The bond has a face value of $1,000 and has an 8 percent annual coupon. The bond has a current yield of 8.21 percent. What is the bond's yield to maturity?
2. A bond that matures in 7 years sells for $1,020. The bond has a face value of $1,000 and a yield to maturity of 10.5883 percent. The bond pays coupons semiannually. What is the bond's current yield?