1. Kiss the Sky Enterprises has bonds on the market making annual payments, with 18 years to maturity, and selling for $960. At this price, the bonds yield 8.5 percent. What must the coupon rate be on the bonds?

2. A holder of a 180-day bill with 60 days left to maturity and a face value of $100 000 chooses to sell it into the market. If 60-day bills are currently yielding 6.8% per annum, what price will be obtained

3. What is the geometric average rate of return based on the following series of annual returns:

8%, -12%, 13%, 35%, 6%

8.975%

10.475%

10.737%

9.138%