Are the following statements True, False, or Uncertain:

Statement 1: A coupon bond has an annual coupon rate of 5.25% quoted on an actual/actual basis, has a par (notional or nominal or principal) value of $100, matures on 15-aug-2023, and on 15-aug-2018 had a price of $95.

True/False/Uncertain: The yield to maturity is 5.154%ab.

Statement 2: Say the bond above paid 5.25% semi-annually but everything else were the same (including the market price of $95). True/False/Uncertain: The yield for this bond is lower and thus this bond is less valuable. (Be careful to think about the difference between ab and

sab yields.)

Statement 3: True/False/Uncertain: The Macaulay Duration of a par-value bond with a coupon rate of 8% (paid annually) and a remaining time to maturity of 5 years is 4.31 years.