OK I don't know which answer is correct so can someone please help me with this financial question problem?

OK I did these 2 questions like two times each to make sure and I have two answers. I am not sure which one is correct so can someone please explain to me which answer is right? Here's the problem question:


1-Culpepper Supply has a bond issue outstanding that pays a 7.5 percent coupon and matures in 14 years. The bonds have a par value of $1,000 and a market price of $942.90. Interest is paid semiannually. What is the yield to maturity?


Here are the two answers I got:


1)7.67 percent


2)8.19 percent


Which one is correct?


Here's another problem I had:


Swenson %26amp; Swenson just decided to save $2,200 a month for the next 6 years as a safety net for recessionary periods. The money will be set aside in a separate savings account which pays 5.5 percent interest compounded monthly. They deposit the first $2,200 today. If the company had wanted to deposit an equivalent lump sum today, how much would they have had to deposit?


1)$135,273.51


2)$134,656.34


Which one is correct?


Thanks|||The answer to the first question YTM is 8.201% so your 8.19% might just be a rounding error. Here is a website for you to use that is great for bond calculations:


http://www.moneychimp.com/calculator/bon鈥?/a>





For the second question I am not sure how you did the calculation. The first thing to do is figure out what the future value is of a payment stream of $2,200 per month for 6 years at 5.5%. You should have calculated that to be $188,019.33 if you compound interest on a monthly basis. Also, if you are using a business calculator you need to use the begin period option rather than end period i.e., the payment is made at the beginning of the period. Then you take the present value of that number using the 5.5% annually, and a six year period. You should get an answer of $ 136,360.