One year ago, you purchased a $1,000 face value bond for a clean price of $980. The bond currently has seven years remaining until maturity, pays a coupon payment of $45 every six months, and has a yield to maturity of 6.87 percent. What is the percentage change in the bond price over the past year?

A. -6.24 percent
B. -14.70 percent
C. 15.48 percent
D. 13.96 percent
E. 6.61 percent

Ans: D. 13.96 percent

Business

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