Since your first birthday, your grandparents have been depos…

Since your first birthday, your grandparents have been depositing $1000 into a savings account on every one of your birthdays. The account pays 5% interest annually. Immediately after your grandparents make the deposit on your 16th birthday, the amount of money in your savings account will be closest to:

The Ford Prefect Company has bonds outstanding with a face v…

The Ford Prefect Company has bonds outstanding with a face value of $1,000 that reach maturity in 15 years.  The bond’s indenture indicates that the stated coupon rate for this bond is 10% and that the coupon payments are to be made semiannually.  Assuming the appropriate YTM on the bond is 6%, then the price that this bond trades for will be closest to:

The Ford Prefect Company has bonds outstanding with a face v…

The Ford Prefect Company has bonds outstanding with a face value of $1,000 that reach maturity in 15 years.  The bond’s indenture indicates that the stated coupon rate for this bond is 12% and that the coupon payments are to be made semiannually.  Assuming that this bond trades for $625.00, then the YTM for this bond is closest to: