Jessica's $1,000 par value bond has a 9% coupon, which is paid on a semiannual basis. It matures in either 2 years or 20 years. The current yields on similar bonds are either 6% or 10%.

a. Calculate the price of Jessica's bond for the four possibilities, ensure to round the final answer to 2 decimal places.

		Price of the bond
2 years	6 percent	$
2 years	10 percent	$
20 years	10 percent	$
20 years	6 percent	$

b. Is the price and yield Inversely or Directly related?

c. Does the bond prices change less for longer terms, more for longer terms, or for a given yield change?