When the yield to maturity is

$$

equal to

greater than

less than

the coupon$$ rate, the$$ bond's current price is below its face value. For a given$$ maturity, the$$ bond's current price

$$

falls

does not change

rises

as the yield to maturity rises. For a given yield to$$ maturity, a$$ bond's value

$$

does not change

rises

falls

as its maturity increases. When the yield to maturity is

$$

greater than

equal to

less than

the coupon$$ rate, a$$ bond's current price equals its face value regardless of the number of years to maturity.