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10) A $20,000 face value bond with a coupon rate of 6.4% paid semi-annually has 15 years to maturity and a yield to maturity of

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10) A $20,000 face value bond with a coupon rate of 6.4% paid semi-annually has 15 years to maturity and a yield to maturity of 5.2%. If interest rates rise and the yield to maturity increases to 5.9%, what will happen to the price of the bond quantitatively? Not to be posted or answered on CHEGG

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