Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Assume all bonds have a face or par value of 1,000 unless told otherwise
One year ago, XYZ Co. issued 19-year bonds at par. The
bonds have a coupon rate of 6.49 percent, paid
semiannually, and a face value of $1,000. Today, the market
yield on these bonds is 6.98 percent. What is the
percentage change in the bond price over the past year?
Answer to two decimals
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Transcribed Image Text:One year ago, XYZ Co. issued 19-year bonds at par. The bonds have a coupon rate of 6.49 percent, paid semiannually, and a face value of $1,000. Today, the market yield on these bonds is 6.98 percent. What is the percentage change in the bond price over the past year? Answer to two decimals
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