A 15-year bond with a face value of $1,000 currently sells for $800. One year later, if the discount rate is still the same, which of the following statements is CORRECT?
The bond’s price will still be exactly $800.
The bond’s price will still be somewhat greater (perhaps by around $10 more).
The bond’s price will still be somewhat less (perhaps by around $10 less).
The bond’s price will still be significantly greater (perhaps by around $100).
The bond’s price will still be significantly less (perhaps by around $100).