Question: A 2 0 - year bond has an 7 . 0 % coupon rate and face value of $ 1 0 0 0 . The

A 20-year bond has an 7.0% coupon rate and face value of $1000. The yield to maturity is 10%. What is the percentage change in the price of this bond if interest rates rise by 2%? Assume the bond makes semi-annual coupon payments.

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