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A seven-year bond with a face value of $1,000 and a 6% p.a. coupon rate has a yield to maturity of 8% p.a. If interest

A seven-year bond with a face value of $1,000 and a 6% p.a. coupon rate has a yield to maturity of 8% p.a. If interest rates remain unchanged, what is most likely to happen to the bond's price one year from today?

a.The price will be higher.

b.This cannot be determined without additional information.

c.The price will remain unchanged.

d.The price will be lower.

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