What is the percent change in the value of the bond

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You buy a 30 year zero coupon bond which will pay you $1000 in 30 years at an annual yield of 1 = 4% compounded once per year. A few minutes later the annual yield rises to i = 6% compounded once per year. What is the percent change in the value of the bond? (Hint: recall the formula for percent change.

Reference no: EM132028779

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