Suppose a 10-year, $1,000 bond with a 8 % coupon rate and semiannual coupons is trading for a price of $1,102.87
Suppose a 10-year, $1,000 bond with a 8 % coupon rate and semiannual coupons is trading for a price of $1,102.87
If the bond’s yield to maturity changes to 8% APR, what will the bond’s price be?
The price is $ (Round to the nearest cent.)
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