Assume a par value of $1,000. Caspian Sea plans to issue a 19.00 year, semi-annual pay bond that has a coupon rate of 8.00%. If the yield to maturity for the bond is 8.0%, what will the price of the bond be?
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Answer format: Currency: Round to: 2 decimal places.
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A bank offers 8.00% on savings accounts. What is the effective annual rate if interest is compounded monthly?
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Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))
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