What happens to the price of a three-year annual coupon paying bond with an 8% coupon when interest rates change from 8% to 6.91%? Answer in dollar terms to the nearest decimals without the $ sign. Use a "-" sign to denote a price decrease. Do not use a "+" sign. %3D %3D

What happens to the price of a three-year annual coupon paying bond with an 8% coupon when interest rates change from 8% to 6.91%? Answer in dollar terms to the nearest decimals without the $ sign. Use a "-" sign to denote a price decrease. Do not use a "+" sign. %3D %3D

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter6: Fixed-income Securities: Characteristics And Valuation

Section: Chapter Questions

Problem 8P

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What happens to the price of a three-year annual coupon
paying bond with an 8% coupon when interest rates
change from 8% to 6.91%? Answer in dollar terms to the
nearest decimals without the $ sign. Use a "-" sign to
denote a price decrease. Do not use a "+" sign.

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