Question: A bond has a $ 1 , 0 0 0 par value, 1 0 years to maturity, and a 7 % annual coupon and sells

A bond has a $1,000 par value, 10 years to maturity, and a 7% annual coupon and sells for $985.
a. What is its yield to maturity (YTM)? Round your answer to two decimal places.
%
b. Assume that the yield to maturity remains constant for the next four years. What will the price be 4 years from today? Do not round intermediate calculations. Round your answer
to the nearest cent.
$
A bond has a $1,000 par value, 10 years to maturity,

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