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An investor purchases a Tesla bond for $1,200 ($1,000 principal, paid semi-annually, maturity of 4 years, 6.5% coupon rate). What is the new price of
An investor purchases a Tesla bond for $1,200 ($1,000 principal, paid semi-annually, maturity of 4 years, 6.5% coupon rate). What is the new price of the bond if the yield-to-maturity of the bond goes down 1.0%? Still assume 4 years until maturity.
$1,200
$1,158
$1,233
$1,244
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