What happened to the price of your bond

Reference no: EM13300081

Bennifer Jewelers recently issued ten-year bonds that make annual interest paments of $50. Suppose you purchased one of these bonds at par value when it was issued. Right away, market interest rates jumped, and the YTM on your bond rose to 6 percent. What happened to the price of your bond?

Reference no: EM13300081

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