What is the percentage change in the price of this bond

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Reference no: EM131886522

A 13-year, 6 percent coupon bond pays interest semiannually. The bond has a face value of $1,000. What is the percentage change in the price of this bond if the market yield to maturity rises to 5.7 percent from the current rate of 5.5 percent?

Please show your work step-by-step manually by hand without tables/charts/excel/calculator-finance-app-solver info.

Reference no: EM131886522

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