Calculate the change in its price that results


Problem

The interest rate is 10 percent and you purchase the newly issued bond in equation 16.3 for $10,000. After you hold it for 16 years the market interest rate rises to 15 percent. Calculate the change in its price that results.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: Calculate the change in its price that results
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