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(20 points) Today is June 29th, 2020, and you bought a newly issued bond. Congratulations! The bond is a three-year maturity bond, expiring on June

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(20 points) Today is June 29th, 2020, and you bought a newly issued bond. Congratulations! The bond is a three-year maturity bond, expiring on June 29th, 2023, with a coupon rate of 6% and a face value of $1,000. The current interest rate (or yield) is 6%. Use this information to answer the following questions. Show all work for potential partial credit. (a) Calculate the price of the bond 'today" (b) Calculate the annual coupon payment (c) By June 29th, 2021, the interest rate falls to 3% and you also decide to sell your bond. Calculate the price you sell your bond for as well as your estimated rate of return. (a) Calculate the price you sell your bond for and your approximate annual rate of return if instead you sold your bond on June 29th, 2022, when the interest rate is again 3%. (e) What would be your approximate annual rate of return if you held the bond until maturity

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