What is the percentage change in price of the bonds

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Question: Armadillo Construction company issued 10% coupon bonds at par for 15yrs to finance its international expansion. The bonds make semi-annual payments. After the issuance, interest rates rose 2%. What is the percentage change in price of the bonds? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM131934068

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