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A 1000 bond with a coupon rate of 54 paid semiannually has

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A $1000 bond with a coupon rate of 5.4% paid semiannually has five years to maturity and a yield to maturity of 7.5%. If interest rates rise and the yield to maturity increases to 7.8% what will happen to the price of the bond?

Reference no: EM13618712

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