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29 A $1,000 bond with a coupon rate of 6.40% paid semiannually has 18 years to maturity and a Yield-to-Maturity of 7.00%. If interest rates

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29 A $1,000 bond with a coupon rate of 6.40% paid semiannually has 18 years to maturity and a Yield-to-Maturity of 7.00%. If interest rates fall and the Yield-to- Maturity decreases to 6.00%, what will happen to the price of the bond? The price of the bond will fall by $104.54 The price of the bond will rise by $95.92 The price of the bond will not change. The price of the bond will fall by $95.92 The price of the bond will rise by $104.54

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