Question: QUESTION 22 A 10-year zero coupon bond with a face value of $1,000 is currently selling for $350. Using the bond's modified duration, what is

QUESTION 22

A 10-year zero coupon bond with a face value of $1,000 is currently selling for $350. Using the bond's modified duration, what is the approximate %age change in the price of the bond if interest rates rise by 30 basis points?

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