Question: A $ 1 0 , 0 0 0 face value bond costs $ 9 , 2 5 0 and matures in one year. If the

A $10,000 face value bond costs $9,250 and matures in one year. If the interest rate on similar bonds rises by 2%, what is the approximate price change for this bond?
The price of the bond rises to $9,804.The price remains unchanged at $9,250.The price of the bond falls to $9,082.The price of the bond rises to $9,424.

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