1 spike buys a car from johns auto mart for 5000 he, Ask an Expert

Finance

1. Spike buys a car from John's Auto Mart for $5000. He finances the car from the dealer and agrees to make payments of $180 per month for 3 years. What is the yield to maturity on this fixed payment loan? ?

2. Suppose Acme issues a semi-annual coupon bond with face value of $1000, coupon rate of 5%, and maturity of 30 years. If the price of this bond is $1100, find the yield to maturity. Answer as a % and round to two decimal places. Do not enter a % sign.

Hint: Use the rate function in excel, financial calculator, or online yield to maturity calculator to solve this problem.

3. Suppose Acme issues a semi-annual coupon bond with face value of $1000, coupon rate of 3%, and maturity of 6 years. If the price of this bond is $980, find the yield to maturity. Answer as a % and round to two decimal places. Do not enter a % sign.

Hint: Use the rate function in excel, financial calculator, or online yield to maturity calculator to solve this problem.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92255540

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