Fresh Water, Inc. sold an issue of 18-year $1,000

Fresh Water, Inc. sold an issue of 18-year $1,000

Question 91 / 1 point

Fresh Water, Inc. sold an issue of 18-year $1,000 par value bonds to the public. The bonds have a 9.22 percent coupon rate and pay interest annually. The current market rate of interest on the Fresh Water, Inc. bonds is 8.25 percent. What is the current market price of the bonds?

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Round the answer to two decimal places.

Yield to Maturity of bond, semi-annually


Question 101 / 1 point

A few years ago, Spider Web, Inc. issued bonds with a 11.42 percent annual coupon rate, paid semiannually. The bonds have a par value of $1,000, a current price of $742, and will mature in 22 years. What would the annual yield to maturity be on the bond if you purchased the bond today?

Round the answer to two decimal places in percentage form. (Write the percentage sign in the “units” box)

You should use Excel or financial calculator.


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