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Consider three bonds with 6.20% coupon rates, all making annual coupon payments and all selling at face value. The short-term bond has a maturity of

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Consider three bonds with 6.20% coupon rates, all making annual coupon payments and all selling at face value. The short-term bond has a maturity of 4 years, the intermediate-term bond has a maturity of 8 years, and the long-term bond has a maturity of 30 years. a. what will be the price of the 4-year bond if its yield increases to 7.20%? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Bond price b. what will be the price of the 8-year bond if its yield increases to 7.20%? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Bond price

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