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Consider a bond that pays annually an 8% coupon, has $1,000 face value with 20 years to maturity. What is the amount that the price

Consider a bond that pays annually an 8% coupon, has $1,000 face value with 20 years to maturity. What is the amount that the price of the bond will change if its yield to maturity increases from 5% to 7%? Is the price change in the same direction as the rate change?

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