11. A bank added a bond to its portfolio. The bond has a duration of 12.3 years...
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11. A bank added a bond to its portfolio. The bond has a duration of 12.3 years and cost $1109. Just after buying the bond, the bank discovered that market interest rates are expected to rise from 8% to 8.75%. What is the expected change in the bond's value?
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Related Book For 
Financial Markets and Institutions
ISBN: 978-0321280299
5th edition
Authors: Frederic S. Mishkin, Stanley G. Eakins
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