1. Time to Maturity A bond issued by a corporation on May 1, 1999 is scheduled to mature on May 1, 2028. If today is May 2, 2009, what is this bond's time to maturity?
A) 19 years
B) 9 years
C) 29 years
D) 28 years
2. You are planning a trip to Australia. Your hotel will cost you A$110 per night for seven nights. You expect to spend another A$3,400 for meals, tours, souvenirs, and so forth. How much will this trip cost you in U.S. dollars if $1 = A$1.0787?
$4,452
$4,088
$4,498
$3,866
$3,631