Question: # 1 6 . A 3 0 - year - maturity bond making annual coupon payments with a coupon rate of 1 2 % has

#16. A 30-year-maturity bond making annual coupon payments with a coupon rate of 12% has duration of 11.54 years and convexity of 192.4. The bond currently sells at a yield to maturity of 8%.
Use a financial calculator or spreadsheet to find the price of the bond if its yield to maturity falls to 7%.
#16. A 30-year-maturity bond making annual coupon payments with a coupon

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