Cynthia Phelps is a recent retiree who is interesed in investing some of her savings into corporate bonds. Her financial planner, Jamie Sheridan, has suggested the following bonds:

Boeing (BA)Bonds have a 11 percent coupon rate and mature in 15 years

McDonalds (MCD) Bonds have a 5 percent coupon rate and mature in 15 years

Pfizer (PFE) Bonds have an 10 percent coupon rate and mature in 15 years

Before doing any calculations, indicate whether each bond listed above is trading at a premium, a discount or at par and provide a brief explanation as to why you assigned each classification.

Calculate the price of each bond at the end of every year until maturity, assuming interest rates remain constant.