Question: A $ 1 0 0 0 bond with a coupon rate of 6 . 1 % paid semiannually has eight years to maturity and a

A $1000 bond with a coupon rate of 6.1% paid semiannually has eight years to maturity and a yield to maturity of 7.9%. If interest rates rise and the yield to maturity increases to 8.4%, what will happen to the price of the bond?
Group of answer choices
The price of the bond will rise by $16.33.
The price of the bond will fall by $21.91.
The price of the bond will fall by $26.79
The price of the bond will not change.

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