Brent purchased a 20-year zero-coupon bond with a $1,000 par value and a 6% yield to maturity.
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Question:
Brent purchased a 20-year zero-coupon bond with a $1,000 par value and a 6% yield to maturity. One year later, interest rates increased to 8%.What is Brent's loss in this investment ?
(round your answer to nearest cent)
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