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Sommers Co. issued a bond with a maturity of 5 years, a par value of $1,000, and a coupon rate 5% with annual payments. The

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Sommers Co. issued a bond with a maturity of 5 years, a par value of $1,000, and a coupon rate 5% with annual payments. The yield to maturity (rTM) is 7%. If the interest rate changes by 1%, how much wi such a bond price change? 4.2% 5.2% 3.9% 4.6% 3.5%

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