Following the Industrial Revolution, to allow for the use of paper currencies to finance trade, governments agreed to convert the paper currency into _____ on demand at a fixed rate.

Because of the technical nature of the products, industrial product purchases are more likely to be based on:

A) cost rather than features. B) features rather than benefits. C) cost rather than benefits D) benefits rather than features.

Rogue Outfitters Inc. has outstanding $1,000 face value 8% coupon bonds that make semiannual payments, and have 14 years remaining to maturity. If the current price for these bonds is $987.24, what is the annualized yield to maturity?

A) 8.00% B) 8.38% C) 8.15% D) 8.64%