Michael owns a 5,000 par value 10% bond with semi-annual coupons. The bond will mature at the end of ten years at par. At issue, he sells the 10% bond and uses the proceeds to buy an 8% bond with semi-annual coupons which matures at par at the end of six years. Current yield rates are 6% convertible semi-annually. Determine the par value of the six-year bond.

Stormie zanzibar owns a bakery in the fictitious country of olombia. each month the government’s market ministry mails her a large list of the regulated price of goods which include products like bread, muffins and flat bread. the list also dictates the types of goods she can sell at the bakery and what she is to charge. because of the regulations placed on these goods, stormie has increased her production of sweets, pies, cakes, croissants and buns and decreased her supply of breads, muffins and flat bread. she has taken these steps because the sweet goods’ prices are not government controlled. stormie zanzibar lives under what type of economy?