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A 20-year bond has a 7.0% coupon rate and face value of $1000. The required return is 10%. What is the percentage change in the

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A 20-year bond has a 7.0% coupon rate and face value of $1000. The required return is 10%. What is the percentage change in the price of this bond if the interest rates decrease by 2%? Assume the bond makes semi-annual coupon payments. Approximately 21% increase Approximately 31% decrease Approximately 21% decrease Approximately 31% increase Approximately 2% increase

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