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A new bond maturing in 30 years was sold at $1,000 face value. Coupon rate was 5%. The interest rates changed immediately after this to

A new bond maturing in 30 years was sold at $1,000 face value. Coupon rate was 5%. The interest rates changed immediately after this to 2%. Estimate the percentage change in the bond price. A. 3% B. 15.6% C. 67% D. none of the above.

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