A bond of mackinnons inc has face value of 1000 pays 6, Financial Management

A bond of mackinnons inc has face value of 1000 pays 6

A bond of MacKinnons Inc. has face value of $1000, pays 6% coupon semiannually, and has 20 years to maturity. The bond has a quoted price of 102. By how many percentage points would the price of MacKinnons’ bond change if the market interest rates suddenly increase by 1%?

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Financial Management: A bond of mackinnons inc has face value of 1000 pays 6

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Financial Management: A bond of mackinnons inc has face value of 1000 pays 6

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