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One year ago, XYZ Co. issued 11-year bonds at par. The bonds have a coupon rate...

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Finance

One year ago, XYZ Co. issued 11-year bonds at par. The bondshave a coupon rate of 6.29 percent, paid semiannually, and a facevalue of $1,000. Today, the market yield on these bonds is 7.31percent. What is the percentage change in the bond price over thepast year? Answer to two decimals

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