Suppose you are buying your first condo for $110,000, and yo…

Suppose you are buying your first condo for $110,000, and you will make a $15,000 down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at a 6.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be?

Assume that you are considering the purchase of a 20-year, b…

Assume that you are considering the purchase of a 20-year, bond with an annual coupon rate of 9.5%. The bond has a face value of $1,000, and it makes semiannual interest payments. If you require an 8.1% nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond?