Question: Please do on paper so I can see steps A 7-year, 5.4% coupon bond pays interest semiannually and has a face value of $1,000. The

Please do on paper so I can see steps

A 7-year, 5.4% coupon bond pays interest semiannually and has a face value of $1,000. The current yield to maturity is 6.4%.

What is the bonds price now? ____________

What will be the new price if the yield to maturity rises to 6.6%? ____________________

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