Question: ( Exam FM Sample Problem 1 7 8 ) * * T H E ANSWER SHOWN I S WRONG * * A 3 0 -

(Exam FM Sample Problem 178)**THE ANSWER SHOWN IS WRONG** A 30-year bond priced to have an annual effective yield of 5.5% has a Macaulay duration of 14. Immediately after the bond is priced, the market yield rate increases by 0.7%. Calculate the bond's approximate percentage price change using a first-order Macaulay approximation.(1 point)(Exam FM Sample Problem 178) A 30-year bond priced to
have an annual effective yield of 5.5% has a Macaulay duration of 14.
Immediately after the bond is priced, the market yield rate increases
by 0.7%.Calculate the bond's approximate percentage price change using a first-order Macaulay approximation.
(Exam FM Sample Problem 178)**THE ANSWER SHOWN IS WRONG** A 30-year

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