Question: A bond has a $1,000 par value, 7 years to maturity, a 9% annual coupon, and sells for $1,095. a). What is its yield to

A bond has a $1,000 par value, 7 years to maturity, a 9% annual coupon, and sells for $1,095.
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 5 years. What will the price be 5 years from today? Round your answer to two decimal places.

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