1. Annuity. At what interst rate will a payment of $639 grow to 20,698.87 over a period of 14 years? Calculate in Microsoft Excel
2. Annuity. How many years will it take for a payment of $868 to grow to 13,833.68 at a compound rate of 10 percent ?
3. Bond. What is the yield to maturity of a $1000 par value bond with a 10.5 % semi-annual coupon and 20 years to maturity and a 1009 price? Calculate in Excel.