What would happen to the value of your bond in the secondary market? Explain.

Assume that today you purchased a Treasury Note with the following characteristics:

Par value = $1,000

Maturity = five years from today

Coupon interest rate =5%

ALL OTHER THINGS BEING EQUAL:

If the prevailing interest rates for  instruments of similar risk and maturity were to increase from 5% to 10% next week, what would happen to the value of your bond in the secondary market? Explain.