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(1 point) (Exam FM Sample Problem 178) A 40-year bond priced to have an annual effective yield of 6.5% has a Macaulay duration of 24

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(1 point) (Exam FM Sample Problem 178) A 40-year bond priced to have an annual effective yield of 6.5% has a Macaulay duration of 24 . Immediately after the bond s priced, the market yield rate increases by 0.1%. Calculate the bond's approximate percentage price change using a first-order Macaulay approximation. The price is decreasing by %

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