A 1 0 percent annual coupon, 2 0 - year bond has a yield - to -
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Question:
A percent annual coupon, year bond has a yieldtomaturity of percent. Assume a par value of $ If its effective duration is years, a basis point increase in rates will result in a:
decrease in price.
increase in price.
decrease in price.
decrease in price.
increase in price.
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