Question: A $ 1 , 0 0 0 par value bond with Seven years left to maturity pays an interest payment semiannually with a 6 percent

A $1,000 par value bond with Seven years left to maturity pays an interest payment semiannually with a 6 percent coupon rate and is priced to have a 5.5 percent yield to maturity. If interest rates surprisingly increase by 0.5 percent, by how much will the bonds price change?

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