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A semiannual coupon bond has a 2.25 percent yield to maturity and a price of $1,350. Interest rates are now projected to increase 50 basis
A semiannual coupon bond has a 2.25 percent yield to maturity and a price of $1,350. Interest rates are now projected to increase 50 basis points. The bond's duration is 15 years. What is the predicted new bond price after the interest rate change?
Select one:
a.
$985.28
b.
$975.40
c.
$1,164.51
d.
$1,249.88
e.
$1057.29
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