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A 6-year zero-coupon bond has a face value of $1,000. If its YTM changes from 3.5% to 5.3%, what is the resulting percentage change in
A 6-year zero-coupon bond has a face value of $1,000. If its YTM changes from 3.5% to 5.3%, what is the resulting percentage change in its price? Use the price determined from the first yield, 3.5%, as the base in the percentage calculation. Round to the nearest hundredth of a percent. (e.g., 4.32% = 4.32). [Hint: Percent price change = ((P2-P1)/P1)x100. If the price dropped, enter a negative number]
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