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A bond with an annual coupon rate of 8% and the term to maturity of 10 years. The bond has face value of $1,000 and

A bond with an annual coupon rate of 8% and the term to maturity of 10 years. The bond has face value of $1,000 and makes semiannual interest payments.
1. If you require a 12% nominal yield to maturity on this investment now (with the term to maturity of 10 years), what is the maximum price you should be willing to pay for the bond?
2. Two years after the bond was issued, the going interest rate fell to 7%. At what price would the bond sell?
3. PLEASE USE EXCEL FUNCTIONS AND SHOW CALCULATION

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