Suppose a $1,000 bond pays $85 per year in interest. Instructions: In part a, round your response to one decimal place. In part b, round your response to two decimal places. a. What is the contractual interest rate (coupon rate") on the bond? %
b. If market interest rates changes to 9 percent, what price will the bond sell for? $"

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. during 2003, an auction house sold a sculpture at auction for a price of $10,211,500. unfortunately for the previous owner, he had purchased it in 2000 at a price of $12,177,500. what was his annual rate of return on this sculpture? (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answer as