A 8.30 percent coupon bond with 13 years left to maturity is priced to offer a yield to maturity of 9.0 percent. You believe that in one year, the yield to maturity will be 8.6 percent. What is the change in price the bond will experience in dollars? Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. Answer is complete but not entirely correct. Change in bond price $ 41.35 x

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
Section: Chapter Questions
Problem 8MC: Suppose a 10-year, 10% semiannual coupon bond with a par value of 1,000 is currently selling for...
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A 8.30 percent coupon bond with 13 years left to maturity is priced to offer a yield to maturity of 9.0 percent. You believe that in one
year, the yield to maturity will be 8.6 percent. What is the change in price the bond will experience in dollars?
Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.
Answer is complete but not entirely correct.
Change in bond price
$
41.35 x
Transcribed Image Text:A 8.30 percent coupon bond with 13 years left to maturity is priced to offer a yield to maturity of 9.0 percent. You believe that in one year, the yield to maturity will be 8.6 percent. What is the change in price the bond will experience in dollars? Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. Answer is complete but not entirely correct. Change in bond price $ 41.35 x
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