Q1.a. List the main function of investment banks in the financial system. (13p) Q.lb. Betas of individual securities are unstable over time. Which factors could cause a company's beta to change over time? (12p) Q2. A bond with a coupon rate of 5% annually and a face value of $1,000 matures in 7 years. If the current annual market interest rate is 6%, what are the Mac D and Mod D of the bonds? (25p)