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Consider three bonds with 6.0% coupon rates, all making annual coupon payments and all selling at a face value of $1,000. The short-term bond has

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Consider three bonds with 6.0% coupon rates, all making annual coupon payments and all selling at a face value of $1,000. The short-term bond has a maturity of 4 years, the intermediate-term bond has maturity 8 years, and the long-term bond has maturity 30 years. a. What will be the price of each bond if their yields increase to 7.0%? (Do not round intermediate calculations. Round your answers to 2 decimal places.) 4 Years 8 Years 30 Years Bond price $ b. What will be the price of each bond if their yields decrease to 5.0%? (Do not round intermediate calculations. Round your answers to 2 decimal places.) 4 Years 8 Years 30 Years A Bond price $ $

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