Question: A $ 1 , 0 0 0 bond with a coupon rate of 6 . 4 % paid semiannually has four years to mahurity and

A $1,000 bond with a coupon rate of 6.4% paid semiannually has four years to mahurity and a yield to maturty of 6.9%. If interest rates fall and the yield to maturity decreases by 0.8%, what will happen to the price of the bond?
A $ 1 , 0 0 0 bond with a coupon rate of 6 . 4 %

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