A 9-year bond paying coupons annually has a yield of 7% and a duration of 8.594...
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A 9-year bond paying coupons annually has a yield of 7% and a duration of 8.594 years (Macaulay). Assume the market yield changes by 45 basis points. Required: What is the percentage change in the bond's price? Note: Assume modified duration and a positive increase in yield change. Do not round intermediate calculations. Negative value should be indicated by a minus sign. Round your answer to 2 decimal places. The percentage change in the bond's price is % A 9-year bond paying coupons annually has a yield of 7% and a duration of 8.594 years (Macaulay). Assume the market yield changes by 45 basis points. Required: What is the percentage change in the bond's price? Note: Assume modified duration and a positive increase in yield change. Do not round intermediate calculations. Negative value should be indicated by a minus sign. Round your answer to 2 decimal places. The percentage change in the bond's price is %
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