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QUESTION
"Bennifer Jewelers recently issued ten year bonds that make annual interest payments of $50. Suppose you purchased one of these bonds at par value...
"Bennifer Jewelers recently issued ten year bonds that make annual interest payments of $50. Suppose you purchased one of these bonds at par value when it was issued. Right away, market interest rates jump, and the YTM on your bond rose to 6 percent. What happened to the price of your bond?"
