Question: A 1 , 0 0 0 par value bond with six years left to maturity pays an interest payment semiannually with a 5 percent coupon

A 1,000 par value bond with six years left to maturity pays an interest payment semiannually with a 5 percent coupon rate and is priced to have a 4.2 percent yeild to maturity. If intrest rates surprisingly increase by 0.5 percent, by how much will the bond price change.

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