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Find the impact on the price of the bond

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Assume you have a 15 year, 2.45% semiannual coupon bond with a face value of $1,000. Assume that the bond's yield to maturity was 2.95% but has increased to 3.28%.

What has been the impact on the price of the bond (in percentage terms)? Please show all of your work.

Reference no: EM132747298

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