Several years ago, Castle in the Sand Inc. issued bonds at face value at a yield to maturity of 7 percent. Now, with 8 years left until the maturity of the bonds, the company has run into hard times and the yield to maturity on the bonds has increased to 15 percent. What has happened to the price of the bonds?

It looks like the cost to buy the bond went south!

Bond was issued at a cost of $100... at yesterday's close, the cost to buy the bond is only $82.00, thereby increasing the percentage of return for the low price.

[i did not figure out the real cost at closing - just gave an example] :)