How to solve

Question $5(10$ points$)$

The modified duration of a bond portfolio worth $$9,300,000$ is $5\mathrm{.}50$ years. By approximately how much does the value of the portfolio change if all yields change by $6$ basis points? $($hint: use the correct sign and two decimal digits accuracy. Example: $-9,680\mathrm{.}00$

Your Answer: $$

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