What is percentage price change

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You own two $1,000 par bonds, one in this problem and one in the next. I want to illustrate something. The first bond has a 7.64% coupon, pays coupons annually, matures in 12 years, and yields 10%. If the required yield rises to 12%, what is the percentage price change? Answer in percent to three decimal places.

Reference no: EM131841881

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