The annual interest payment paid once per year is 80 what, Financial Management

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The annual interest payment paid once per year is 80 what

1. Bonds issued by CSNY have a par value of $1,000, are selling for $850, and have 20 years to maturity. The annual interest payment, paid once per year, is $80. What is the approximate yield to maturity?

a. 6.4% b. 10.2% c. 9.7% d. 8.0%

2. The Astaire Dance Studio decides to purchase a large van needed to transport students back and forth from competitions. The cost of the van is $75,000. Assuming you finance the entire balance over 60 months, and can get an auto loan at 8%, what will your monthly payment be?

a. $1,623

b. $1,250

c. $1,521

d. $763

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