Problem 7-26 Bond Prices and Interest Rate Changes (LG7-5) A 760 percent coupon bond with...
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Problem 7-26 Bond Prices and Interest Rate Changes (LG7-5) A 760 percent coupon bond with 14 years left to maturity is priced to offer a yield to maturity of 8.3 percent. You believe that in one year, the yield to maturity will be 79 percent. What is the change in price the bond will experience in dollars? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Answer is complete but not entirely correct. Change in bond price 13.71
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