1. A 6.8% coupon bearing bond pays interest semi-annually and has a maturity of 17 years. If the annual yield to maturity is 5.7%, what is the current price of this bond? (Answer to the nearest penny.)
2. What is the price today (in dollars and cents) of a 3 year 4.55% coupon rate bond that returns the par value of $1000 at maturity. Use a required rate of return of 12.50?
Set calculator for at least four decimal places of accuracy.