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It depends on the value of the bonds that you are comparing. The yield of a bond it's related to its market value. Note that the value of a bond can be given in term of its yield as $$V (y) = \sum^N_{i = 1} \dfrac{C_i}{\left(1 + y \right)^{t_i}},$$ where $C_i$ are the coupons. Note that I'm implicitly including the principal in the last coupon, $C_N$. Then, ...


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