When the yield to maturity is equal to, greater than or less than the coupon rate

For a given maturity, the bond's current price rises, does not change or fall as the yield to maturity rises.

For a given yield to maturity, a bond's value rises, does not change or fall as its maturity increases

When the yield to maturity is equal to, greater than or less than the coupon rate, a bond's current price equals its face value regardless of the number of years to maturity.

Consider a bond with a 6% annual coupon and a face value of $1,200. Complete the following table. (Enter your responses rounded to two decimal places.) Years to Maturity 3 3 4 When the yield to maturity is yield to maturity rises. For a given yield to maturity, a bond's value bond's current price equals its face value regardless of the number of years to maturity. Yield to Maturity Current Price $1266.61 4% 6% $ 1200.00 6% $ 1200.00 6 4% $1325.81 6 8% $ 1089.05 the coupon rate, the bond's current price is below its face value. For a given maturity, the bond's current price as its maturity increases. When the yield to maturity is as the the coupon rate, a T