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Homework answers / question archive / A $5000 bond with a coupon rate of 6

A $5000 bond with a coupon rate of 6

Finance

A $5000 bond with a coupon rate of 6.4% paid semi-annually has four years to maturity and a yield to maturity of 6.2%. If interest rates fall and the yield to maturity decreases by 0.8%, what will happen to the price of the bond?

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