a. You are looking at a bond that has 20 years to maturity. The coupon rate is 9% and coupons are paid semiannually. The yield-to-maturity is 7%. What is the current price? Is it a premium bond or a discount bond?

Settlement Date:	(Choose a date)
Maturity Date:	(Choose a date 30 years after settlement)
Coupon Rate:
YTM:
Face Value (% of par):
Coupons per year:
Price(% of par):
Formula:	'=PRICE(B3,B4,B5,B6,B7,B8)
Premium or Discount Bond?

b. You are looking at a bond that has 30 years to maturity. The coupon rate is 8% and coupons are paid semiannually. The current price is $950. What is the yield to maturity? Is it a premium bond or a discount bond?

Settlement Date:
Maturity Date:
Coupon Rate:
Bond Price (% of par):
Face Value (% of par):
Coupons per year:
Yield to maturity:
Formula:	'=YIELD(B3,B4,B5,B6,B7,B8)
Premium or Discount Bond?