A3 percent coupon bond, with 12 years left to maturity, is priced to offer a...
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A3 percent coupon bond, with 12 years left to maturity, is priced to offer a 8.5 percent yield to maturity. You believe that in two year, the yield to maturity will be 4.25 percent. What is the change in price of the bond, in dollars? Assume semi- annual interest payments and $1,000 par value. (Round your answer to the nearest integer. Do not include a dollar sign. If the price decreases, use a negative "sign. If the price increases, use a "+" sign.)
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