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A $1000 bond with a coupon rate of 6% paid semiannually has eight years to maturity and a yield to maturity of 8%. If interest

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A $1000 bond with a coupon rate of 6% paid semiannually has eight years to maturity and a yield to maturity of 8%. If interest rates rise and the yield to maturity increases to 9%, what will happen to the price of the bond? A. The price of the bond will rise by $51.11. The price of the bond will rise by $51.99. B. The price of the bond will fall by $51.11. C. The price of the bond will fall by $51.99. D

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