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7. A bond with a 7-year duration is worth $1,085, and its yield to maturity is 8.5%. If the yield to maturity falls to 8.29%,

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7. A bond with a 7-year duration is worth $1,085, and its yield to maturity is 8.5%. If the yield to maturity falls to 8.29%, you would predict that the new value of the bond will be approximately O $1,082.7:2 O $1,085.00 $1,099.65 O $1,087.28

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