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QUESTION
Suppose a ten year, $1,000 bond with a 8% coupon rate and semiannual coupons is trading for a price of $1103.
Suppose a ten year, $1,000 bond with a 8% coupon rate and semiannual coupons is trading for a price of $1103.93.
A) What is the bonds yield to maturity (expressed as an APR with semiannual compoudning)?
B)If the bonds yield to maturity changes to 9% APR, what will the bonds price be?
