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A $ 1 , 0 0 0 bond with a coupon rate of 5 . 7 % paid semiannually has ten years to maturity and

A $1,000 bond with a coupon rate of 5.7% paid semiannually has ten years to maturity and a yield to maturity of 8%. If interest rates rise and the yield to maturity increases to 8.3%, what will happen to the price of the bond?
A. The price of the bond will fall by $28.77.
B. The price of the bond will fall by $23.97.
C. The price of the bond will rise by $23.97.
D. The price of the bond will not change.
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