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A bond has a coupon rate of 8% and matures in 10 years. The bond has a par value of $1,000. The yield to maturity
A bond has a coupon rate of 8% and matures in 10 years. The bond has a par value of $1,000. The yield to maturity is 8%. If interest rates increase from 8% to 9%, what is the actual percentage change in bond's price resulting from this increase in interest rates?
Express your answer as a percentage, rounded to two decimal places.
Group of answer choices
a.-6.42%
b.+1.00%
c.+6.42%
d.-1.00%
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