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Calculate the value of a bond that matures in 12 years and has a face value of SGD1000. The coupon rate is 8% paid semi-annually

Calculate the value of a bond that matures in 12 years and has a face value of SGD1000. The coupon rate is 8% paid semi-annually and the prevailing market yield is 7%. What will happen to the bond value if the market yield increases by 1%?

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