Why do bond prices go down when interest rates go up? Don’t bond lenders like to receive high interest rates?

Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter4: Time Value Of Money
Section4.6: Perpetuities
Problem 2ST
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Why do bond prices go down when interest rates go up? Don’t bond lenders like to receive high interest rates?

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