Help me solve these practice problems:

A $1,000 bond has a coupon of 4% ($40 coupon payments) and matures after 10 years.

What would be the bonds price if comparable debt yields 6%? __________________

What would be the price if the comparable debt yields 6% and the bond matures after 5 years? ________________________

What are the current yields for a. and b. above?

a._______________ b.________________

Ten years ago, your grandmother purchased for you a 20-year $1,000 bond with a coupon rate of 12% ($120 dollar coupon payments). You now wish to sell the bond and read that comparable yields are 8%. What price should you receive for the bond?

Your Price: ___________________

Your broker offers to sell you a AAA-rated bond for $1,200 with a coupon rate of 8% ($96 coupon payments) and a maturity of 8 years. Given that the interest rate on comparable debt is 6%, is your broker fairly pricing the bond?

Value of the bond: ______________

Is his $1,200 a fair price? ___________________