ACCOUNTING-Bond T is a 10% coupon bond, has 11 years to maturity
QUESTION
Bond T is a 10% coupon bond, has 11 years to maturity, makes semiannual payments, and has a yield to maturity of 7%.a) what is the bond price is the face value is $1,000?b) If interest rates suddenly rise by 2%, what will be the percentage change in the price of Bond T?
ANSWER:
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