Question : A $1,000 par value bond with six years left to : 1272
A $1,000 par value bond with six years left to maturity pays an interest payment semiannually with a 9 percent coupon rate and is priced to have a 8.1 percent yield to maturity. If interest rates surprisingly increase by 0.5 percent, by how much would the bond’s price change? Do not round intermediate calculations. Round your answer to 2 decimal places.
Bond's price= decreased or increased by _______ $ .