Azero-coupon bond is a security that pays no interest, and is therefore bought at a substantial discount from its face value. if the interest rate is 5% with annual compounding how much would you pay today for a zero-coupon bond with a face value of $1,200 that matures in 9 years?

Bond x is noncallable and has 20 years to maturity, a 7% annual coupon, and a $1,000 par value. your required return on bond x is 10%; if you buy it, you plan to hold it for 5 years. you (and the market) have expectations that in 5 years, the yield to maturity on a 15-year bond with similar risk will be 9.5%. how much should you be willing to pay for bond x today? (hint: you will need to know how much the bond will be worth at the end of 5 years.) do not round intermediate calculations. round your answer to the nearest cent.

In most states, a licensee must provide a(n) of any existing agency relationships to all parties

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes