1 myers inc will be making annual loan payments of 389550, Ask an Expert

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1. Myers, Inc. will be making annual loan payments of $3,895.50 for a 10-year period starting at the end of this year. If the interest rate is 9 percent, what is the present value of this annuity?

A. $23,250

B. $25,000

C. $29,000

D. $30,250

2. Jenny Clayton is looking to invest in some 5-year bonds that pay annual coupons of 6.25 percent on a face value of $1,000 and are currently selling for $588.79. What is the yield to maturity on these bonds?

5 percent

10 percent

15 percent

20 percent

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