A 9-year bond has a yield of 12 and a duration of 8641, Ask an Expert

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A 9-year bond has a yield of 12% and a duration of 8.641 years. If the market yield changes by 75 basis points, what is the percentage change in the bond's price? (Do not round intermediate calculations. Input the amount as a positive value. Round your answer to 2 decimal places. Omit the "%" sign in your response.)

The percentage change in the bond's price is %.

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Financial Management, Finance

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