1. Consider a 4-year coupon bond with 8% coupon that is paid semi-annually. The maturity date is 2024/06/30. The face value of the bond is $1,000 and its YTM is 10% per year. Use Excel to calculate flat prices and invoice prices of this bond on the following dates.

   2022-04-30 2022-06-30 2022-09-02 2023-02-03 2023-04-04 2023-03-05

2. Plot flat prices and invoice prices on one figure. Briefly explain why the flat price, rather than the invoice price, is quoted in practice.