Calculate the percentage change in price for the bond, Financial Management

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Calculate the percentage change in price for the bond

Suppose you are given the following bond quote information:

Time to maturity: 7 years

Coupon rate: 3.5%

Yield to maturity: 5%

Par Value: $1,000

Assume semi-annual compounding. Using the bond information, calculate the percentage change in price for the bond assuming the yield to maturity decreases by 100 basis points. (Enter percentages as decimals and round to 4 decimals)

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Financial Management: Calculate the percentage change in price for the bond

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Financial Management: Calculate the percentage change in price for the bond

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