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1. A 10-year, 8% coupon bond pays interest semi-annually. The bond has a face value of $1,000. What is the percentage change in the price

1. A 10-year, 8% coupon bond pays interest semi-annually. The bond has a face value of $1,000. What is the percentage change in the price of this bond if the market yield rises to 9% from the current rate of 8%? Interpret.

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