Which of the following statements is incorrect? In the United States, the default is the MonthvDay/Year formut, so Excel whil recognize, say, 2/4/2017 as February 4, 2017, and treat it an a date Discounted securities are sold for more than face value and redeemed above the full face value at maturity becakse they are typicaly loneterm debt oblieations that pay intereit. Because the value of a bond is the present value of iss future canh flows the value of a bond will increase as the interest rate declines, and vice versa. The vield to maturity is the compound annal rate of rehurn that can be expected if the bond is held to maturity. All the anwers are correct except one. Question 2 Which of the following statements is correct? Shor t-term bonds and those with high coupon rates are much more sensitive to changes in yields than are loneterm bonds and those with low coupon rates. As a bond approaches its maturity date, the annual coupon value must approsch its face value lineluding accrued interesth. A bond's the required refum fyield is less than the coupon rate, the bond sells at a premium. For a given chanse in vield, short-term bond prices will change mere than long-term bond prices. Al the answers are correct