Bond value and time$-$Changing required returns Personal Finance Problem Lynn Parsons is considering

investing in either of two outstanding bonds. The bonds both have $$1,000$ par values and $13\%$ coupon interest rates

and pay annual interest. Bond A has exactly $6$ years to maturity, and bond $B$ has $16$ years to maturity.

a$.$ Calculate the present value of bond $A$ if the required rate of return is: $(1)10\%,(2)13\%,$ and $(3)16\%.$

b$.$ Calculate the present value of bond $B$ if the required rate of return is: $(1)10\%,(2)13\%,$ and $(3)16\%.$

c$.$ From your findings in parts a and $b,$ discuss the relationship between time to maturity and changing required

returns.

d$.$ If Lynn wanted to minimize interest rate risk, which bond should she purchase? Why?

a$.(1)$ The value of bond $A,$ if the required return is $10\%,$ is $$.($Round to the nearest cent.$)$