YIELD TO MATURITY AND FUTURE PRICEA bond has a $1,000 par value, 8 years to maturity, and

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YIELD TO MATURITY AND FUTURE PRICE

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A bond has a $1,000 par value, 8 years to maturity, and

a 6% annual coupon and sells for $930.

  1. What is its yield to maturity (YTM)? Round your answer to two decimal places.

?%

Assume that the yield to maturity remains constant for the next 4 years. What will the price be 4 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.

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