Applied Software has a $1,000 par value bond outstanding that pays 12 percent interest with annual payments. The current yield to maturity on such bonds in the market is 10 percent. Use Appendix B and Appendix D.

Compute the price of the bonds for these maturity dates: (Round "PV Factor" to 3 decimal places. Do not round intermediate calculations. Round the final answers to 2 decimal places.)

	Price of the bond
a. 40 years	$
b. 25 years	$
c. 3 years	$

Bonds issued by the Tyler Food chain have a par value of $1,000, are selling for $1,720, and have 20 years remaining to maturity. Annual interest payment is 17.5 percent ($175), paid semiannually.

Compute the approximate yield to maturity. (Round the final answer to 2 decimal places.)

Approximate yield to maturity %

Bonds issued by the Coleman Manufacturing Company have a par value of $1,000, which is also the amount of principal to be paid at maturity. The bonds are currently selling for $920. They have 10 years to maturity. Annual interest is 12 percent ($120), paid semiannually.

Compute the yield to maturity. (Round the final answer to 2 decimal places.)

Yield to maturity %