Arizona State University FIN FIN MISC ABC has a 6-year, 6% annual coupon bond with a $1,000 par value. Earls Enterprises has a 12-year, 6% annual coupon bond with a $1,000 par value. Both…
Enterprises has a 12-year, 6% annual coupon bond with a $1,000 par value. Both bonds currently have a yield to maturity of 6%. Find price changes of the two bonds in terms of percentages if the yield to maturity increases to 7%.
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