Question: A $ 2 0 , 0 0 0 bond has 2 0 years until maturity with a semi - annual coupon rate of 7 %

A $20,000 bond has 20 years until maturity with a semi-annual coupon rate of 7%. Determine its market price at semi-annual market rates of 5%,6%,8% and 9%. What patterns are noticeable and why? Use appropriate terminology.

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