What is the current market price for the bond

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Reference no: EM132072244

1. XYZ Inc. has issued a 30-year bond with a coupon rate of 8%, the future value of $1000, and a market rate of 9%. What is the current market price for the bond?

2. Lonette and Al received a statement reporting that they paid $8,800 in mortgage interest during the past year. If they are in a 31 percent tax bracket, this deduction may reduce their taxable income by:

3. A person borrows $220 from a payday loan company, paying $20 interest for two weeks. This would result in an annual interest rate of approximately ___ percent. Ignore interest rate compounding. (Round your answer to 2 decimal places.)

Reference no: EM132072244

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