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7. A 15 -year, 6 percent coupon bond pays interest annually. The bond has a face value of $1,000. What is the change in the

image text in transcribed 7. A 15 -year, 6 percent coupon bond pays interest annually. The bond has a face value of $1,000. What is the change in the price of this bond if the market yield to maturity rises to 7 percent from the current rate of 6 percent? A. 9.11 percent decrease B. 10.02 percent increase C. 9.11 percent increase D. 10.02 percent decrease E. 9.56 percent increase

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