1, Page Enterprises has bonds on the market making annual payment, with nine years to maturity, and selling for $948. At this price, the bonds yield 5.9 percent. What must the coupon rate be on the bonds? 2, Bond J is a 3 percent coupon bond. Bond K is a 9 percent coupon bond. Both bonds have 15 year to maturity, make semiannual payments, and have a YTM of 6 percent. If interest rates suddenly rise by 2 percent, what is the percentage price change of these bonds? What if rates suddenly fall by 2 percent instead? What does this problem tell you about the interest rate risk of lower-coupon bonds? 3, Martin software has 9.2 percent coupon bonds on the market with 18 years to maturity. The bonds make semiannual payments and currently sell for 106.8 percent of par. What is the current yield on the bonds? The YTM? The effective annual yield? 4, Backwater Corp. has 8 percent coupon bonds making annual payments with a YTM of 7.2 percent. The current yield on these bond is 7.55 percent. How many years do these bonds have left until they mature? 5, You’ve just found a 10 percent coupon bond on the market that sells for par
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