Assume that you wish to purchase a bond with a 30-year maturity, an annual coupon rate of 10 percent, a face value of $1,000, and semiannual interest payments. if you require a 9 percent nominal yield to maturity on this investment, what is the maximum price you should be willing to pay for the bond?

present value of the bond discounted at 9% $1,103.19

Explanation:

We will calcualte the present value of the coupon payment and the maturity of the bonds a t the 9% market rate to know the present value of the bonds.

Cuopon payment: 1,000 x 10% /2 = $50 per payment

time 30 years x 2 payment per year = 60

rate9% annual /2 = 4.5% semiannual = 0.045

PV$1,031.9011

Maturity   1,000.00

time        60

rate  0.045

PV   71.2890

PV coupon payment$1,031.9011

PV maturity                       $71.2890

Total                          $1,103.1901

metallurgy is your answer

the "study of metals and the process of refining ("

note that it says metal. metallurgy has the word "metal" in it, and so is most likely your answer (and is your answer).

~

reducing the scale of the market for a new product.