What is the price of a $1,000 par value, 15 percent (semi-annual payment) coupon bond with 16 years remaining until maturity assuming that the bond's yield to maturity is 10 percent?
What is the current price of a $1,000 par value bond that has a coupon rate of 18 percent, pays coupon interest annually, has 19 years remaining to maturity, and has a current yield to maturity (discount rate) of 9 percent.
What is the price of a $ 1,612 par value, 15 percent coupon consol, or perpetual bond (i.e., coupon interest payment is a perpetuity), assuming that the yield to maturity on the bond is 11 percent.