Please copy and paste your Excel bond calculations under each relevant question. Do NOT submit an Excel spreadsheet, only your word document with your name on it.

A) A 30-year Treasury bond expiring on February 15, 2048 with a 3% coupon has a yield of 5%. Calculate its price. Assume the bonds settlement date is June 30^th, 2018.

B) You want to buy a bond that pays an annual coupon of 4.2% on March 31^st of each year. On June 30^th, 2018, the bond is priced at 99-12 (in points and fractions). You decide to buy (and pay for) the bond on that date at that price. What is the final invoice price that you must pay to the bond seller?

C) Consider an original 5-year US Treasury note with a 3.5% coupon expiring on 06/15/2022. If this note sells at 101-07 in the bond market, what would be its yield to maturity? Assume the bonds settlement date is 6/30/2018. Remember that US government bonds and notes pay the coupon on a semi-annual basis)

D) General Motors recently issued a 7-year note that pays a 4% coupon rate (paid annually) and expires on February 15, 2025. The current price of this note is 100-04 (in points and fractions). What is this notes yield to maturity? And assume that the bonds settlement date is 6/30/2018.

E) It is now one year later and market yields for bonds/notes with similar characteristics have risen to 4.5%. What should now be the (dollar) price of the Albertsons note? How do you explain the change of price from one year to the other?