Part One: The Union Local School District has bonds outstanding wiht a courpon rate of 3.2 percent paid semiannually and 16 years to maturity. The yield to maturity on these bonds is 3.7 percent and the bonds have a par value of $1,000. What is the price of the bond today?

Part Two: Assume the same facts as Part One, except that the bonds have a par value of $5,000. What is the amount of the semiannual coupon payment? What is the price of the bond today?

Please use Excel functions.