Market inc. has a 7-year 6 percent annual coupon bond, Ask an Expert

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Market, Inc. has a 7-year, 6 percent annual coupon bond outstanding with a $1,000 par value. The bond has a yield to maturity of 5.5 percent.

find out the % change in price in this bond if the market yield suddenly increases to 7 percent?

I'm having a hard time working this out.

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Category:- Basic Finance
Reference No.:- M924784

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