A bond has 5 years until maturity, an annual coupon rate of 7%, and it yields 5% currently. By how much will the price change over the next year if the yield decreases to 4.5% next year? Multiple Choice O O $3.1 O $6.2 O $15.67 $23.16

A bond has 5 years unti maturity, an annual coupon rate of 7%, and it ylelds 5% currenty. By how much will the price change over the next year if the yield decreases to 4.5% next year? Mutsple Choice $31 $62 $15.67 $2316