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An 8 percent coupon bond with 15 years to maturity is priced to offer a 9...

An 8 percent coupon bond with 15 years to maturity is priced to offer a 9 percent yield to maturity. You believe that in five years, the yield to maturity will be 7 percent. What is the approximate change in price the bond will experience in dollars? Assume annual interest payments and a $1,000 par value.

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jeff jeffy answered 1 year ago
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