1. A $1000 bond with coupons at 6%, convertible semiannually, matures at par in 10 years. The bond is sold in 22 months with an annual yield to maturity of 8%. Find the sale price assuming simple interest between coupon payments.
2. How does the financial statements can help a company operating the business successful?
3. You have just borrowed $20,000, which you will repay in 10 equal annual payments. The bank’s stated rate on its loans is 9%. Based on this information, how much principal will you repay in the 10th (i.e. the last) year of the loan?