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Jim and Pam both have bonds they bought at par value which pay a 9.75% coupon rate. Jims bond has 10 years to maturity and
Jim and Pam both have bonds they bought at par value which pay a 9.75% coupon rate. Jims bond has 10 years to maturity and Pams bond has 20 years to maturity. if interest rates suddenly rise to 11.65% what is the approximate change in value of Jims bond? (answer in percentage)
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
