The objective of this problem set is to practice the concepts leamed about bonds. You will solve bond applications, compute bond prices, and calculate YTM and spot rates. Please use Excel to solve these questions and send your answers to Robert. 1. Consider a bond selling at par ($100,000) with an annual coupon rate of 4.5% and 15 years to maturity. a. What is the price of this bond if the yield to maturity is 15%? b. What is the price of this bond if the yield decreases from 15% to 14%, and by what percentage did the price of this bond change? c. What is the price of this bond if the yield is 2%? d What is the price of this bond if the yield decreases from 2% to 1%, and by what percentage did the price of this bond change? e. From your answers to parts b and d, what can you say about the relative percent change of a bond in high-compared to low-interest-rate environment