Provide responses to the following 5 questions. Make sure each question is at-least 300 - 500 words.

1 . What type of investor is likely to seek out convertible bonds? How do they fit into ones portfolio? Is it a diversification financial tool? Please discuss.

2. How can time-value-of-money be used in bond valuation?

3. What are the pros and cons to investing in bonds? Please share your thoughts.

4. Explain how a bonds interest rate can change over time even if interest rates in the economy do not change.

5. When an economy faces fluctuations, what types of bonds are the best to invest in? Elaborate your discussion in relevance to the current time period.