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Bond prices and maturity dates. Les Company is about to issue a bond with quarterly coupon payments, an annual coupon rate of 11%, and a

Bond prices and maturity dates. Les Company is about to issue a bond with quarterly coupon payments, an annual coupon rate of 11%, and a par value of $5,000. The yield to maturity for this bond is 9%.

a. What is the price of the bond if it matures in 15, 20, 25, or 30 years?

b. What do you notice about the price of the bond in relationship to the maturity .of the bond?

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