Question

A firm's bonds have a maturity of 14 years with a $1,000 face value, have an 11% semiannual coupon, are callable in 7 years at $1,223, and currently sell at a price of $1,384.44.

a. What is their nominal yield to maturity? Do not round intermediate calculations. Round your answer to two decimal places.
b. What is their nominal yield to call? Do not round intermediate calculations. Round your answer to two decimal places.
c. What return should investors expect to earn on these bonds?

Answer 1

The restaurant manager or FOH manager is responsible for handling guest complaints, training staff, and opening the restaurant on time. The lunch-hour manager addressed a line-up issue by introducing floor markings, resulting in an efficient service and reduced staff stress.

Step-by-step explanation:

The individual responsible for solving all guest complaints, training the FOH (Front Of House) staff, and ensuring the restaurant opens on time is typically the restaurant manager or a specific management role designated for the front of house operations, such as a FOH manager. In the context provided, a lunch-hour manager was tasked with these responsibilities.

When faced with guest complaints about a confusing line-up system, the lunch-hour manager took action by implementing a new system with clear floor markings to indicate where customers should line up for each cashier. As a result of this initiative, the customer service clerks experienced less stress and the restaurant was able to serve a higher number of customers more efficiently.