An 8%, 15-year bond has a yield to maturity of 10% and a modified duration of 7.25
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Question:
An 8%, 15-year bond has a yield to maturity of 10% and a modified duration of 7.25 years. If the market yield changes by 50 basis points, how much change will there be in the bond's price?
1.85%
6.44%
3.63%
2.01%
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