You are considering an investment in the bonds of the Front Range Electric Company. The bonds pay interest semiannually, mature in $20$ years, and have a coupon rate of $8\%$ with par value of $$1,000.$ The current price of the bonds is $$945.$ Please use a fresh Excel spreadsheet for this homework assignment $($be sure to save the file before starting$)$ and do the following:

$1.$ What is the YTM of the bond if you purchase at the current price of $$945?$

$2.$ If the YTM changes to $6\mathrm{.}8\%,$ what is the price of the bond? $($Use the PV function$)$

$3.$ Calculate the price of the bond each year until maturity, assuming the YTM remains the same. Chart your results. Include a line in your chart showing par value.

$4.$ What is the current yield of the bond?

$5.$ Assume that the settlement date for your purchase is $10/30/2021$ and the maturity date is $10/30/2041.$ Use the YIELD and PRICE functions to recalculate your results from parts $1)$ and $2).($They should be the same$)$

$6.$ You plan to sell the bond on December $15$th$,2022.$ If you do so$,$ what would be the price of the bond excluding accrued interest?