Bond prices and maturity dates. Les Company is about to issue a bond with monthly coupon payments, an annual coupon rate of $15\%,$ and a par value of $$1,000.$ The yield to maturity for this bond is $12\%.$

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?

a$.$ What is the price of the bond if it matures in $15$ years?

$ $($Round to the nearest cent.$)$

What is the price of the bond if it matures in $20$ years?

$($Round to the nearest cent.$)$

What is the price of the bond if it matures in $25$ years? $|$

$ $($Round to the nearest cent.$)$

What is the price of the bond if it matures in $30$ years?