Bond Features 

Maturity (years) = 
7 
Face Value = 
$1,000 
Starting Interest Rate 
4.87% 
Coupon Rate = 
3% 
Coupon dates (Annual) 
If interest rates change from 4.87% to 5.66% immediately after you buy the bond today (and stay at the new interest rate), what is the price effect in year 3 ?
State your answer to the nearest penny (e.g., 48.45)
If there is a loss, state your answer with a negative sign (e.g., 52.30)
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