What is the approximate dollar price

Reference no: EM131486548

Question: Five years ago, you purchased a $1,000 corporate bond issued by General Electric. The interest rate for the bond was 4 percent. Today comparable bonds are paying 5 percent.

a. What is the approximate dollar price for which you could sell your General Electric bond?

b. In your own words, describe why your bond decreased in value.

Reference no: EM131486548

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