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A $1,000 bond with a coupon rate of 6.3% paid semiannually has ten years to maturity and a yield to maturity of 8.4%. If interest

A $1,000 bond with a coupon rate of 6.3% paid semiannually has ten years to maturity and a yield to maturity of 8.4%. If interest rates rise and the yield to maturity increases to 8.7%, what will happen to the price of the bond? A. rise by $17.94 B. fall by $21.53 C. fall by $17.94 D. The price of the bond will not change.

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