Jordan bought a 4% semiannual coupon bond with 25 years to maturity at par value of $1,000. If the required rate of return (yield to maturity )of this bond increases to 4.25%, by how much does the value of the bond change?

A.

minus $38.04

B.

minus $38.27

C.

plus $39.28

D.

The value does not change if Jordan intends to hold the bond to maturity.