1. The price of a bond issued by Wal-Mart has is $985 today in the market. If this bond pays a 6% coupon rate with payments made semi-annually, and has 9 years to maturity with a par value of $1,000. What is the current yield to maturity (YTM) on this bond?
2. Jack adds $2,000 to his savings account at the end of each year. He earns a 10% rate of return. What is the balance in his savings account at the end of 30 years (round to the nearest dollar)?