Question
The Corner Grocer has a 6-year, 6 percent annual coupon bond outstanding with a $1,000 par value. The bond has a yield to maturity of
The Corner Grocer has a 6-year, 6 percent annual coupon bond outstanding with a $1,000 par value. The bond has a yield to maturity of 5.5 percent. What is its percentage price change if the YTM suddenly increases by 1 percent?
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley Eakins
6th Edition
0321374215, 9780321374219
