Question: Please help me answer and understand both the change in the bonds price in dollars, and change in the bonds price in percentage Course Materials-201801-FI

Please help me answer and understand both the change in the bonds price in dollars, and change in the bonds price in percentage

Course Materials-201801-FI X Homework 2 fin 3305 chaptor 5 revie ontandng the drerotty: tpx connect. FIN 330 Financial Institutions 01:30 pon pm: Spring 2018- 01:30 pm FINANCE omework 2 Question 1 (of 6) 10.00 points A $1,300 face value corporate bond with a 7.10 percent coupon (paid semiannually) has 15 years left to maturity. It has had a credit rating of BB and a yield to maturity of 8.5 percent. The firm recently became more financially stable and the rating agency is upgrading the bonds to B8B. The new appropriate discount rate will be 7.4 percent. What will be the change in the bond's price in dollars and percentage terms? Round your answers to 3 decimal places. (e.g32.161) Change in the bond's price in dollars Change in the bond's price in percentage References eBook & Resources Worksheet Difficulty Medium

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