A

$ $1$ comma $000$$$1,000$

bond with a coupon rate of

$77\%$

paid semiannually has

ninenine

years to maturity and a yield to maturity of

$8\mathrm{.}68\mathrm{.}6\%.$

If interest rates rise and the yield to maturity increases to

$8\mathrm{.}98\mathrm{.}9\%,$

what will happen to the price of the$$ bond?

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Part $1$