Question: A $1,000 par value bond with five years left to maturity has 6% coupon rate. Coupon payment is made annually and the bond is priced

A $1,000 par value bond with five years left to maturity has 6% coupon rate. Coupon payment is made annually and the bond is priced to have a 5% yield to maturity (YTM). If the YTM surprisingly increases by 0.5%, by how much will the bonds price change?

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