1. A zero-coupon bond with a par value of $1,000 has a current market price of $548. If the bond has 7 years to maturity, what is its yield to maturity?
9.26%
8.97%
9.12%
9.21%
9.83%
2. What is the required monthly payment on a $350,000 mortgage? Assume a standard mortgage (360 months) with monthly payments. Use a nominal rate of 6.90%.
$2,305
$2,406
$2,337
$2,517
$2,359