Question: Q3 What is the relationship between n-year yield to maturity and the n successive one-year forward rates? Q5 A bond with maturity 10 years

Q3 What is the relationship between n-year yield to maturity and the n successive one-year forward rates? Q5 A bond with maturity 10 years and par value of $1,000 pays semi- annual coupons and sells for $1,200. Its yield to maturity is 4% and its coupon rate is 5%, annualized using the bond convention. What can you say about the bond's current yield? (No calculation needed)

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