A 1000 par value bond with four years left to maturity pays, Ask an Expert

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A $1,000 par value bond with four years left to maturity pays an interest payment semiannually with a 6 percent coupon rate and is priced to have a 5.7 percent yield to maturity. If interest rates surprisingly increase by 0.5 percent, by how much would the bond’s price change? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

Bond's price (Click to select)increaseddecreased by $.

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Financial Management, Finance

Category:- Financial Management
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