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7. You want to buy a new boat for $69500. The bank accepted to offer...

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Finance

7. You want to buy a new boat for $69500. The bank accepted to offer you a loan with APR of 8.6%. The payments will be made monthly for 5 years. i. What will be the monthly payments? ii. Calculate the EAR

8. XYZ corporation has 9 percent coupon rate. It has 8 years to maturity. It makes annual payments and have a par value of $1000. If the YTM on these bonds is 7% what is the bonds price?

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