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Consider a bond selling at par ($100,000) with an annual coupon rate of 4.5% and 15 years to maturity. a. What is the price of

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Consider a bond selling at par ($100,000) with an annual coupon rate of 4.5% and 15 years to maturity. a. What is the price of this bond if the yield to maturity is 15%? b. What is the price of this bond if the yield decreases from 15% to 14%, and by what percentage did the price of this bond change? c. What is the price of this bond if the yield is 2%? d. What is the price of this bond if the yield decreases from 2% to 1%, and by what percentage did the price of this bond change? e. From your answers to parts b and d, what can you say about the relative percent change of a bond in high- compared to low-interest-rate environment

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