Eight years ago, Yan purchased a $20,000 face value, 6% coupon bond with 15 years remaining to

Question:

Eight years ago, Yan purchased a $20,000 face value, 6% bond with 15 years remaining to maturity. The prevailing market rate of return at the time was 7.2% compounded semiannually; now it is 4.9% compounded semiannually. How much more or less is the bond worth today?
Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a...