An eight-year bond has a yield of 9 and a duration of 7201, Ask an Expert

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A(n) eight-year bond has a yield of 9% and a duration of 7.201 years. If the bond's yield increases by 25 basis points, what is the percentage change in the bond's price? (Input the value as a positive value. Do not round intermediate calculations. Round your answer to 2 decimal places.)

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Financial Management, Finance

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