New York City Transitional Series S-2 bonds with a face value of $50 000 mature January 1,

Question:

New York City Transitional Series S-2 bonds with a of $50 000 mature January 1, 2034, with a rate of 4.25% annually. On January 1, 2014, the bonds were sold for a total of $52 998.
(a) Calculate the price of the bonds.
(b) For these bonds, how much interest must be paid each year?
(c) Calculate the yield for these bonds if held to maturity.
(d) If the investor holds the bonds for one year, then sells them for $53 500, how much money was made on the transaction, and what yield would be realized from the sale? Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a... Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...