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A 15-year bond with a coupon rate of 8% per annum is trading with a market yield of 6.35% per annum. Coupons are paid semi-annually
A 15-year bond with a coupon rate of 8% per annum is trading with a market yield of 6.35% per annum. Coupons are paid semi-annually and the face value is $1,000. What is the percentage change in price if the market yield increases by 0.65%? Show all inputs into the calculator that you used to arrive at the final answer.
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