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Consider a bond with a $1000 face value, with a 20 year maturity and a coupon rate of 8% which pays coupons with a semi-annual

Consider a bond with a $1000 face value, with a 20 year maturity and a coupon rate of 8% which pays coupons with a semi-annual frequency. The 4th coupon payment will be received in 1 second. Calculate the value of the bond if the YTM is 4%, 6%, 8%, and 10% (APR with semi-annual compounding). Explain why there is a negative relation between bond price and YTM.

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