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One year ago, a firm issued 15-year bonds at par. The bonds have a coupon rate of 8.5 percent, paid semiannually, and a face value
One year ago, a firm issued 15-year bonds at par. The bonds have a coupon rate of 8.5 percent, paid semiannually, and a face value of $1,000. Today, the market yield on these bonds is 7.2 percent. What is the percentage change in the bond price over the past year? Group of answer choices -6.11 percent 5.38 percent -5.87 percent The bond price did not change. 11.35 percent
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