Bonds J, K, and L all have a face value of $1000 and all have 20 years

Question:

Bonds J, K, and L all have a of $1000 and all have 20 years remaining until maturity. Their respective rates are 6%, 7%, and 8%. Calculate their market prices if the rate of return required by the market on these bonds is 5% compounded semiannually. Summarize the observed pattern or trend in a brief statement.
Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a... Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...