Question
Assume you have a 15 year, 2.45% semiannual coupon bond with a face value of $1,000. Assume that the bond's yield to maturity was 2.95%
Assume you have a 15 year, 2.45% semiannual coupon bond with a face value of $1,000. Assume that the bond's yield to maturity was 2.95% but has increased to 3.28%. What has been the impact on the price of the bond (in percentage terms)? Please show all of your work.
The answer is 3.99%
Please show your work. Thank you
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Psychology Applied To Teaching
Authors: Jack Snowman, Rick McCown
14th Edition
1285734556, 9781285734552
