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Holding the yield to maturity and the coupon rate of a bond constant, as the maturity date moves further into the future (time to maturity

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Holding the yield to maturity and the coupon rate of a bond constant, as the maturity date moves further into the future (time to maturity increases): the discount factor used to calculate the present value of the principal increases the value of the bond will fluctuate less for any change in market yields the discounted face value of the bond represents a larger percentage of the bond's total value than the total present value of the interest payments the sum of the present value of the coupon payments represents a larger share of the total bond value than the present value of the principal

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