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Consider a bond that pays annually an 8% coupon with 20 years to maturity. The percentage change in the price of the bond if its

  1. Consider a bond that pays annually an 8% coupon with 20 years to maturity. The percentage change in the price of the bond if its yield to maturity increases from 5% to 7% is closest to? Set your decimal places to 4 in your financial calculator.

    a

    19.50%
    b

    24.22%
    c

    -24.22%
    d

    -19.50%

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