Question: A 9 - year bond paying coupons annually has a yield of 1 0 % and a duration of 7 . 1 9 4 years

A 9-year bond paying coupons annually has a yield of 10% and a duration of 7.194 years (Macaulay). Assume the market yield changes by 50 basis points.
Required:
What is the percentage change in the bonds price?

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