ABC Corp just purchased a 30-year bond with 4.5% annual coupon, par value of $1000. The bond makes payments semi-annually and the interest rate in the market is 5.2%. Calculate bond duration

27.57 years 15.97 years 16.17 years 30 years

ABC Corp just purchased a 30-year bond with 4.5% annual coupon, par value of $1000. The bond makes payments semi-annually and the interest rate in the market is 5.2%. Calculate the change in bond price if the interest rate decreases by 0.5%

$57.13 increase $63.47 decrease $67.88 increase $67.88 decrease