5. A bond with 8 years left until maturity has a coupon rate of 9%. Is the price an investor is willing to pay for this bond less than $1,000, $1,000 or more than $1,000 if he believes the yield to maturity is: a. 13% b. 8% c. 9%

6. Three investors Wham, Bam and Sam are pricing the same bond, but Wham prices the bond at a discount, Bam at a premium, and Sam at Par. Rank each investor, from smallest to largest, in terms of the yield to maturity they think is appropriate for the bond.