Expert Security Inc. has 9 percent coupon bonds on the market with five (5 ) years left until maturity. These bonds make annual payments.
- If the yield to maturity on t he bond is 8 percent, what is the current price of the bond? (Rounded to the nearest whole number )
- What would be the pr ice of the bond if the yield fell to 7 percent? (Rounded to the nearest whole number )
- What is the current yield of the bond at the yield to maturity is 7 percent? (Rounded to two decimal places )