solve for b

2. Calculate (TWO TIMES) the % change in price and the new dollar price for a bond with the following data: Duration=8.48 change in ytm = -45 basis points AND+55 basis points Old px = $1,020 a. % change in Px New $ PX You make the duration negative -8.48 and multiply by -.0045= will equal the percent change in price of .03816 So the new price of the bond would be the price of a bond (1,000) plus 38.16= will equal a new bond price of 1,038.16 b. % change in Px New $ PX