One year ago, you purchased a 5 percent annual coupon, $1,000 par, 6-year bond for a clean price of $1,075. The bond now has 5 years remaining until maturity. Today, the yield to maturity on this bond is 6.5 percent. How does today’s price of this bond compare to your purchase price? a) $137.34 lower b) $125.31 higher c) $135.30 lower d) $150.40 higher. Get …
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