1. A 6.1% coupon bearing bond pays interest semi-annually and has a maturity of 17 years. If the annual yield to maturity is 9.3%, what is the current price of this bond? (Answer to the nearest penny.)
2. A 6.1% coupon bearing bond pays interest semi-annually and has a maturity of 19 years. If the current price of the bond is $953.86, what is the yield to maturity of this bond? (Answer to the nearest tenth of a percent, e.g. 12.34%)
3. In some countries, expropriation(seizure) of foreign investments is a common practice. If you were considering an investment in on of these countries, would the use of payback criterion seem more reasonable than it otherwise might? Why or why not?