Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a German company issues a bond with a par value of €1,000, 27 years to maturity, and a coupon rate of 3.6 percent paid annually. If the yield to maturity is 3.2 percent, what is the current price of the bond in euros?Input area:Settlement date1/1/2020 Maturity date1/1/2047 Coupon rate3.60% Coupons per year1 Redemption value (% of par)100 Yield to maturity3.20% Par value€ 1,000 (Use cells A6 to B12 from the given information to complete this question. You must use the built-in Excel function to answer this question. Leave the “Basis” input blank in the function. You may enter a constant as a hard coded value.)Output area:Price (% of par) Price
What are the prices of these bonds today?
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What do you expect the prices of these bonds to be in one year?
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What do you expect the prices of these bonds to be in three years?
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What do you expect the prices of these bonds to be in eight years?
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What do you expect the prices of these bonds to be in 12 years?
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What do you expect the prices of these bonds to be in 13 years?
Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.