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Instructions Problem 1 Problem 2 Problem 3 Problem 4 Please show all your work in order to receive credits. You can show the calculations by listing how you input in a financial calculator, or use Excel. Grading is based on effort. Instructions Problem 1 Problem 2 Problem 3 Problem 4 Price Sensitivity of Fixed Income Securities A 6% coupon bond pays interest annually, matures in 7 years, and has a principal of $1000. (a) Assuming a discount rate of 8%, what is the price of this bond? (b) Assuming a discount rate of 8.5%, what is the price of this bond? (c) Assuming a discount rate of 7.5%, what is the price of this bond? (d) What is the duration of this bond, assuming that the price is the one you calculated in part (a)? (e) If the yield changes by 100 basis points, from 8% to 7%, what would be the approximate % price change using the calculated du (1) What is the actual % price change given the yield change in (e)