Question: A 1,000$ par value bond with five years left to maturity pays an interest payment semiannually with a 6 percent coupon rate and is priced
A 1,000$ par value bond with five years left to maturity pays an interest payment semiannually with a 6 percent coupon rate and is priced to have a 5 percent yield to maturity. If interest rates surprisingly increase by 0.5 percent, by how much would the bond's price change ? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))
Bonds price _______ by __________ ? .
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