Question: Use Macauly's Duration Price Approximation formula for this. Before a change in interest rates, your bond has the following characteristics: present value of $ 5

Use Macauly's Duration Price Approximation formula for this.
Before a change in interest rates, your bond has the following characteristics: present value of $5,557.56, Duration of 3.69 years with market interest rates of 5%. Calculate the percentage change in the bond's price if market rates rise to 5.20%.
Be sure to include the negative sign IF you think the price goes down.

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