A bond has a par value of 1000 a time to maturity of 15, Financial Management

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A bond has a par value of 1000 a time to maturity of 15

A bond has a par value of $1,000, a time to maturity of 15 years, and a coupon rate of 8.90% with interest paid annually. If the current market price is $890, what will be the approximate capital gain of this bond over the next year if its yield to maturity remains unchanged? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Capital gain $

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Financial Management: A bond has a par value of 1000 a time to maturity of 15

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