Question: Todd owns a thirty - year zero - coupon bond priced at $ 3 0 4 . 7 8 . If interest rates increase by

Todd owns a thirty-year zero-coupon bond priced at $304.78. If interest rates increase by 50 basis points, how much will the bond change?
The price will decrease less than 5%.
The price will increase less than 5%.
The price will decrease between 5% and 10%.
The price will decrease more than 10%.

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