Using sound bond valuation principles, explain in terms of present value why zero coupon bonds sell at

Question:

Using sound bond valuation principles, explain in terms of present value why zero bonds sell at such a deep discount to the par value.
Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a...