Question: I am having a hard time figuring out the 3 questions below. If you can provide step-by-step understandable instructions on how you arrived…

Question:I am having a hard time figuring out the 3 questions below. If you can provide step-by-step understandable instructions on how you arrived at the answer, I would appreciate it. It will help me with other questions I have. Thank you.

  • Crossfade Co issued 15-year bonds two years ago at a coupon rate of 6.9 percent. The bonds make semiannual payments. If these bonds currently sell for 94 percent of par value, what is the YTM?                    
  • Volbeat Corporation has bonds on the market with 10.5 years to maturity, a YTM of 8.4 percent and a current price of $945. The bonds make semiannual payments. What must the coupon rate be on the bonds?                
  • PK Software has 7.5 percent coupon bonds on the market with 22 years to maturity. The bonds make semiannual payments and currently sell for 97 percent of par. What is the current yield on PK bonds? The YTM? The effective annual yield?

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