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A corporate bond has 22 years to maturity, a face value of $1,000, a coupon rate of 5.2% and pays coupon twice a year. The
A corporate bond has 22 years to maturity, a face value of $1,000, a coupon rate of 5.2% and pays coupon twice a year. The annual market interest rate for similar bonds is 3%. What is the price of the bond (in $ )? Attempt 1/10 for 10 pts. 2 years later, the market interest rate for similar bonds has gone up to 4%. What is the new price of the bond (in \$)
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