Education by taking out reverse annuity mortgage

Assignment Help Financial Management

Reference no: EM131882151

1. You purchase a bond with an invoice price of $1,178. The bond has a coupon rate of 6.25 percent, a face value of $1,000, and there are two months to the next semiannual coupon date. What is the clean price of this bond?

A. $1,157

B. $1,199

C. $1,136

D. $1,168

2. Your great aunt decides to fund your education by taking out a reverse annuity mortgage on her house. What annual payment can she get if she decides on a $300,000 debt at the end of 12 years and the current rate is 9%?

Reference no: EM131882151

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