One year ago, you bought a 15-year $1,000 face-value bond that has an annual coupon rate of 7% and interest payments are paid semi-annuallyIf the yield to maturity was 9.1% when you bought the bond, but the yield to maturity is 8.2% today, then the price of the bond has increased ___________.
a. decreased by $63
b. increased by $48
c. increased by $58
d. decreased by $54

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