Question: Need the right answer dont use AI Calculate the expected price change (in %) if interest rates rise to 9.60% using the duration approximation formula.

Need the right answer dont use AI Need the right answer dont use AI Calculate the expected price change

Calculate the expected price change (in \%) if interest rates rise to 9.60% using the duration approximation formula. If the answer is negative, be sure to include the minus sign. Information from prior You see a four-year bond trading in the market with the following characteristics: $1,000 face value, 8% coupon with 4 years to maturity. Assume market interest rates are 9.5% and that coupon payments are annual

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