1.) What would an investor pay for a 5% coupon, semi-annual pay bond, $1000 par value with a maturity of 14 years if the current yield to maturity (or said another way the going interest rate) on bonds of the same risk was 3%?

2.) What would an investor pay for a 3% coupon semi-annual pay bond, $1000 par value with a maturity of 18 years if market interest rates similar risk bonds are 7%?

3.) What is the YTM on a $1000 par value bond with a coupon interest rate of 4% paid semi-annually with a maturity of 22 years if the bond is currently trading in the market at $877.92?

4.) What is the yield to call on a 20 year maturity, 8% coupon bond with interest paid semi-annually, $1000 par value, a call premium of 8% but non -callable for 3 years if the current trading price of the bond is $1,100.

5.) You observe an 8% coupon bond, semi-annual pay with Macauley duration of 8 years and a current YTM of 10% such that the bonds current market price is $875.38. Lets say you anticipate that interest rates on similar risk bonds will increase by 40 basis points in the future. What is the modified duration of this bond and based on that, what do you expect the bonds price change to be if your interest rate forecast proves accurate?