Question 29 1 pts Use the bond term's below to answer the question Maturity...
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Finance
Question 29
1 pts
Use the bond term's below to answer the question
Maturity 6 years
Coupon Rate 3%
Face value $1,000
Annual Coupons
When you buy the bond the interest rate is 4%
Right after you buy the bond, the interest rate changes from 4.00% to 5.00% and remains there.
What is the price effect in year 3?
Group of answer choices
-$26.71
-$24.29
-$29.39
-$27.93
-$22.08
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