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A 16-year, 4.5% coupon bond pays interest semiannually. The bond has a face value of $1,000....

A 16-year, 4.5% coupon bond pays interest semiannually. The bond has a face value of $1,000. What is the percentage change in the price of this bond if the market yield to maturity rises to 5.7% from the current rate of 5.5%?

PLEASE TRY TO BE A SIMPLE AS POSSIBLE, preferably using excel!

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