The bonds make semi-annual payments after the issuance
Armadillo Construction company issued 10% coupon bonds at par for 15yrs to finance its international expansion. The bonds make semi-annual payments. After the issuance, interest rates rose 2%. What is the percentage change in price of the bonds?
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armadillo construction company issued 10 coupon bonds at par for 15yrs to finance its international expansion the bonds
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