Question: If interest rates go down 1%, what is the approximate percentage price change in a bond that has 8% coupon (paid annually), YTM of 5%,

If interest rates go down 1%, what is the approximate percentage price change in a bond that has 8% coupon (paid annually), YTM of 5%, and its Macaulay Duration is 15 years +14.3% 0 -14.3% O +15.09 -13.9% +13.996 - 15.0%

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