Assume Molina Healthcare sold bonds that have a 20-year maturity, a 12 percent coupon rate with annual payments, and a $1,000 par value.

1. Suppose that two years after the bonds were issued, the required interest rate fell to 6 percent. What would be the bonds value?
2. Suppose that two years after the bonds were issued, the required interest rate rose to 15 percent. What would be the bonds value?
3. What would be the value of the bonds four years after issue in each scenario above, assuming the interest rates stayed steady at either 6 percent or 15 percent?

Please show in Excel