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A semiannual coupon bond has a 5.25 percent yield to maturity and a price of $950. Interest rates are now projected to increase by another
A semiannual coupon bond has a 5.25 percent yield to maturity and a price of $950. Interest rates are now projected to increase by another 25 basis points in the next three months. The bond's duration is 10 years. After the interest rate change, the new bond price is predicted to be $ (Round final your answer to 2 decimal places.)
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