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18) A bond is selling at par with modified duration of 11 years. The bond convexity is 400. According to the duration-with-convexity rule, what would

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18) A bond is selling at par with modified duration of 11 years. The bond convexity is 400. According to the duration-with-convexity rule, what would be the percentage change in price if there is an increase by 2% in yield? A. Greater than -11%. B. Less than -11% but greater than -22%. C. Great than 11%. D. Less than -22%

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