1. Bond Quotes Consider the following three bond quotes; a Treasury note quoted at 102:18, and a corporate bond quoted at 98.85, and a municipal bond quoted at 103.05. If the Treasury and corporate bonds have a par value of $1,000 and the municipal bond has a par value of $5,000, what is the price of these three bonds in dollars? (Round your answers to 2 decimal places.)
$1,002.90, $1,000, $1,000, respectively
$1,000, $1,000, $5,000, respectively
$1,025.63, $988.50, $5,152.50, respectively
$1,002.90, $988.50, $5,015.25 respectively
2. Time to Maturity A bond issued by a corporation on September 1, 1989 is scheduled to mature on September 1, 2055. If today is September 2, 2009, what is this bond's time to maturity?
46 years
20 years
66 years
55 years