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10 points Saved Milner's Tools has a 9-year, 7% annual coupon bond outstanding with a $1,000 par value. Carter's Tools has a 10-year, 6% annual
10 points Saved Milner's Tools has a 9-year, 7% annual coupon bond outstanding with a $1,000 par value. Carter's Tools has a 10-year, 6% annual coupon bond with a $1,000 par value. Both bonds currently have a yield to maturity of 6.65%. What is the percentage (%) increase/decrease in value for each bond if the market yield increases to 6.90%? You must show all your work including formulas, factors and/or calculator functions and inputs as appropriate. (10 marks). For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Q Arial v 10pt E XX T < ALI +] O V r F 1
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