Question: Calculate the price change for a 1-percent decrease in market yield for the following bond: par = $1,000; coupon rate = 8 percent, paid semi-annually;

Calculate the price change for a 1-percent decrease in market yield for the following bond: par = $1,000; coupon rate = 8 percent, paid semi-annually; market yield = 8 percent; term to maturity = 8 years.

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