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How much would Tony gain or lose if he purchased a 30-year zero-coupon bond with a $1,000 par value and 9% yield to maturity, only
How much would Tony gain or lose if he purchased a 30-year zero-coupon bond with a $1,000 par value and 9% yield to maturity, only to see market interest rates increase to 12% one year later? (Hint: How much would the price change from a year earlier?)
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