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Next year, County X is planning to issue 6-year, 8% coupon bonds with $1,000 face...

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Finance

  1. Next year, County X is planning to issue 6-year, 8% coupon bonds with $1,000 face value. County X projects that the bonds will have a yield to maturity of 6%. Assume that coupons are paid semi-annually . Calculate the dollar price change for the County X bond if the yield to maturity is actually 7% rather than 6% when the bonds are issued. (4 points)

    -4.7%

    5.2%

    4.7%

    -5.2%

    -3.4%

    3.4%

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