6 Consider a 7% seminannual coupon bond with 30 years to maturity and a face value of USD 1,000. Assume that the YTM is 12%. Calculate the bond price using the Excel PRICE function (you may use Method I or Method 2 to check your result). What happens to the bond price if the same bond matures in 20 years? 7/12/15 7/12/15 7% $1.000 7% $1.000 Settlement Maturity Coupon rate Face Value Frequency of payments Coupon payment Time to maturity Market required yield Bond price (PRICE Excel function) 30 12% 20 12% Bond price (formula)