Question: Given a 10 year bond that sold for $1,000 with a 10% coupon rate, what would the price of the bond be if interest rates

Given a 10 year bond that sold for $1,000 with a 10% coupon rate, what would the price of the bond be if interest rates in the market place on similar bonds are now 8%? Interest is paid semi-annually. Assume a 10 year time period.

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