What will happen to is 6 suppose the market interest rat, Financial Management

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What will happen to is 6 suppose the market interest rat

Calculate the value (Price) of the following corporate bond with a 6. coupon rate of 7% (annual), and a face value of $1000.00. The maturity of the bon d is 15 years. The market interest rate of similar bonds (Yield to maturity) e increases to 9%, what will happen to is 6%. Suppose the market interest rat the bond value now? Why?

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