A nine-year bond has a yield of 10% and a duration of 6.285 years. If the bond's yield increases by 50 basis points (i.e., 0.5%), What is the percentage change in the bond's price? Enter your answer as a decimal (e.g., 0.01 instead of 1%), rounded to four decimal places.

Answer rating: 100% (QA)

The formula for the percentage change in a bonds price given a change in yield is Percenta... View the full answer