1)If spot rates are 3.1% for one year, 3.5% for two years, and 3.8% for three years and 4.0% for four years, the price of a $100 face value, 4-year, annual-pay bond with a coupon rate of 5% is equal to:

2)

The following spot and forward rates are provided:

Current 1-year spot rate is 5.5%.

One-year forward rate one year from today is 6.63%.

One-year forward rate two years from today is 8.18%.

The value of a 3-year, 6% annual-pay, $100 par value bond is equal to:

3)The 3-year spot rate is 8.75%, and the 2-year spot rate is 8.65%. What is the 1- year forward rate two years from today

4)

Bond	Coupon Rate	Maturity (years)
A	6%	9
B	6%	6
C	8%	6

All three bonds are currently trading at par value.

Which bond will most likely experience the greatest percentage change in price and which one most likely experience the lowest percentage change if the market discount rates for all three bonds increase by 1%? Provide explanations.