3. Coupon No. Face Value Redemption Interest Years to Compounding Purchase ($) Rate (%) Redemption Frequency Price ($) 1 1000 At par 0 10 Semiannual 2 2000 At par 5 6 Annual 3 10 000 At par 5.5 4 Semiannual 4 5000 At par 7 5 Semiannual 5 6000 At par 4 4 Quarterly a) Find the purchase price of the 5 bonds assuming the market interest rate is 7% per annum. b) b. What is the Holding Period yield if you sold each of these bonds after two years at a new market interest rate of 6% p.a.? Does this new rate increase or decrease the value of the bond