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A 1 5 - year, 6 % coupon bond pays interest annually. The bond has a face value of $ 1 , 0 0 0

15 -

year,

6 %

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 yield rises to

5.5 %

from the current yield of

4.5 % ?

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