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(15 points) A 30-month Zero-Coupon Bond has an (annualized) YTM of 6%. Suppose that the (annualized) YTM on this bond decreases 0.2%. Using duration ,

(15 points) A 30-month Zero-Coupon Bond has an (annualized) YTM of 6%. Suppose that the (annualized) YTM on this bond decreases 0.2%. Using duration, estimate the approximate percentage change in the price of such a bond. Please round your answer to the nearest basis point (e.g., 1.23%).

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