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36. Bond X has a five-year maturity with a face value of $1,000, it pays fixed coupon of 6.00% per annum. Bond X is currently

36. Bond X has a five-year maturity with a face value of $1,000, it pays fixed coupon of 6.00% per annum. Bond X is currently yielding 10 per cent.

If the market interest changes from 10 per cent to 9 per cent (changes in interest rate = 1% or 0.01) what will be the impact on bond price?

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