Eight years ago, Yan purchased a $20,000 face value, 6% coupon bond with 15 years remaining to maturity. The prevailing market rate of return at the time was 7.2% compounded semiannually; now it is 4.9% compounded semiannually. How much more or less is the bond worth today?

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The Answer of Eight years ago, Yan purchased a $20,000 face value, 6% coupon bond with 15 years remaining to maturity. The prevailing market rate of return at the time was 7.2% compounded semiannually; now it is 4.9% compounded semiannually. How much more or less is the bond worth today?

Eight Years Ago, Yan Purchased a $20,000 Face Value, 6