Question: Use financial calculator or excel, but please show work A $ 1 , 0 0 0 par value bond with a coupon rate of 6

Use financial calculator or excel, but please show work
A $1,000 par value bond with a coupon rate of 6.2% paid semiannually has eight years to maturity and a yield to maturity of 8.3%. What is the current price of the bond? If interest rates rise and the yield to maturity increases to 8.6%, what will happen to the price of the bond? Will it go up or down and what is the new price?

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