Question: Question 1 3 pts A bond with face value = 6,000 currently trades at par. Its Macaulay duration is 4.49 years and its convexity is

Question 1 3 pts A bond with face value = 6,000

Question 1 3 pts A bond with face value = 6,000 currently trades at par. Its Macaulay duration is 4.49 years and its convexity is 56.88. Suppose yield currently is 2.81%, and is expected to change to 2.07%. Calculate the approximate dollar change in price using both duration and convexity. Assume annual compounding. Round your answer to 2 decimal places

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