Question: Define convexity and explain how modified duration and convexity are used to approximate the bond's percentage change in price, given a large change in interest

Define convexity and explain how modified duration and convexity are used to approximate the bond's percentage change in price, given a large change in interest rates.

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Define convexity and explain how modified duration and convexity are used to approximate the bond's percentage change in price, given a large change in interest rates.

Define convexity and explain how modified duration and convexity are used to approximate the bonds percentage change in price, given a change in interest rates.

Explain how modified duration and convexity are used to approximate the change in the price of a bond for a given change in interest rates.

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