Five years ago you purchased a 1000 corporate bond issued, Finance Basics

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Five years ago you purchased a 1000 corporate bond issued

Question: Five years ago, you purchased a $1,000 corporate bond issued by General Electric. The interest rate for the bond was 4 percent. Today comparable bonds are paying 5 percent.

a. What is the approximate dollar price for which you could sell your General Electric bond?

b. In your own words, describe why your bond decreased in value.

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Finance Basics: Five years ago you purchased a 1000 corporate bond issued

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Finance Basics: Five years ago you purchased a 1000 corporate bond issued

Reference No:- TGS02282112

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