Part $2$ of $5$

Bond prices and maturity dates. Les Company is about to issue a bond with quarterly coupon payments, an annual coupon rate of $12\%,$ and a par value of $$1,000.$ The yield to maturity for this bond is $10\%.$

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?

$$1154\mathrm{.}54($Round to the nearest cent.$)$

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

$($Roind to the nearest cent.$)$ Help on solving for $20,25$ and $30$ years