Question: (Chapter 6) A $1,000 face value bond with a coupon rate of 5.7% paid semiannually has ten years to maturity and a yield to maturity

(Chapter 6) A $1,000 face value bond with a coupon rate of 5.7% paid semiannually has ten years to maturity and a yield to maturity of 6.4%. If interest rates fall and the yield to maturity decreases by 0.8%, what will happen to the price of the bond? The price of the bond will fall by $58.70. The price of the bond will fall by $81.18. The price of the bond will fall by $70.44. The price of the bond will rise by $81.18. The price of the bond will rise by $58.700

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