A nine-year bond has a yield of 10 and a duration of 7194, Ask an Expert

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A nine-year bond has a yield of 10% and a duration of 7.194 years. If the bond's yield changes by 50 basis points, what is the percentage change in the bond's price? (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places. Omit the "%" sign in your response.)

Change in bond's price = %

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Financial Management, Finance

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