What is the price expressed as a percentage of the face, Finance Basics

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What is the price expressed as a percentage of the face

Question: A BBB-rated corporate bond has a yield to maturity of 12.2%. A U.S. treasury security has a yield to maturity of 10.4%. These yields are quoted as APRs with semiannual compounding. Both bonds pay semi-annual coupons at a rate of 10.8% and have five years to maturity.

a. What is the price (expressed as a percentage of the face value) of the treasury bond?

b. What is the price (expressed as a percentage of the face value) of the BBB-rated corporate bond?

c. What is the credit spread on the BBB bonds?

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