1. Find the bond's price if it has 7 years left until maturity, has nominal 4% coupon rate and semiannual payment frequency. The current market rate is 3% per year. Face value is $1000.
2. How are working capital items forecasted? Why are accounts receivable typically forecasted as a percentage of revenue and accounts payable, and inventories as percentages of the cost of goods sold? Explain
3. Approximately how many years are needed to double a $100 investment when interest rates are 8.50 percent per year? (Round your answer to 2 decimal places.)