Question: please exain to me how to do this problem with the financial calculator HP10bII+ A 20 -year bond has a 7.0% coupon rate and face
A 20 -year bond has a 7.0% coupon rate and face value of $1000. The bond's yield to maturity is 10%. What is the percentage change in the price of this bond if the interest rates decrease by 2% ? Assume the bond makes semi-annual coupon payments. Approximately 21% increase Approximately 21% decrease Approximately 2% increase Approximately 31% increase Approximately 31% decrease
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