A zero-coupon bond is bond that does not pay coupon interests. Return on such a bond all comes from capital gain yield, i.e. you pay $900 today and get the face value of $1,000 at maturity, but you do not receive any coupon payments.

A bond trader purchased each of the following bonds at a yield to maturity of 8%. Immediately after she purchased the bond, interest rates fell to 7%. What is the percentage change in the price of each bond after the decline in interest rates? Fill in the following table.

	Price @ 8%	Price @ 7%	Percentage Change
10-year, 10% semiannual coupon bond
5-year zero-coupon bond
15-year zero-coupon bond
$5 perpetuity