Question
One year ago, XYZ Co. issued 15-year bonds at par. The bonds have a coupon rate of 4.81 percent, paid semiannually, and a face value
One year ago, XYZ Co. issued 15-year bonds at par. The bonds have a coupon rate of 4.81 percent, paid semiannually, and a face value of $1,000. Today, the market yield on these bonds is 4.27 percent. What is the percentage change in the bond price over the past year?
Answer to two decimals.
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Financial Markets and Institutions
Authors: Jeff Madura
12th edition
9781337515535, 1337099740, 1337515531, 978-1337099745
