Valuing Bonds $[[$ LO$2]$ Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued

elsewhere often have annual coupon payments. Suppose a German company issues a bond with a par value of years to

maturity, and a coupon rate of $3\mathrm{.}6$ percent paid annually. If the yield to maturity is $3\mathrm{.}2$ percent, what is the current price of the bond

in euros?

Bond Yields $[$ LO$2]$ A Japanese company has a bond outstanding that sells for $104\mathrm{.}352$ percent of its $100,000$ par value. The bond

has a coupon rate of $3\mathrm{.}4$ percent paid annually and matures in $16$ years. What is the yield to maturity of this bond?

Coupon Rates $[$ LO$2]$ Gordon Enterprises has bonds on the market making annual payments, with eight years to maturity and a par

value of $$1,000,$ and selling for $$962.$ At this price, the bonds yield $5\mathrm{.}7$ percent. What must the coupon rate be on the bonds?