Suppose a 15-year 1000 bond with a 6 coupon rate and, Financial Management

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Suppose a 15-year 1000 bond with a 6 coupon rate and

Suppose a 15-year, $1000 bond with a 6% coupon rate and semiannual coupons is trading for a price of $1050.62.

a. What is the bond's yield to maturity (expressed as an APR with semiannual compounding)?

b. If the bond's yield to maturity changes to 6.5% APR, what will the bond's new price?

c. Given your answer to b., is the bond now selling at a premium, discount, or at par?

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Financial Management: Suppose a 15-year 1000 bond with a 6 coupon rate and

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Financial Management: Suppose a 15-year 1000 bond with a 6 coupon rate and

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