# Question: what is the percentage change in price for a zero...

###### Question details

What is the percentage change in price for a zero coupon bond if the yield changes from 8.5% to 8%? The bond has a face value of $1,000 and it matures in 15 years. Use the price determined from the first yield, 8.5%, as the base in the percentage calculation. The percentage change in the bond price if the yield changes from 8.5% to 8% is ____%. (Round to two decimal places.)