A 5-year 8% coupon bond with annual payments (face value = 10,000) currently trades at par. Its

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A 5-year 8% coupon bond with annual payments (face value = 10,000) currently trades at par. Its annual Macaulay duration is 5.8 years.

Suppose yield goes down by 0.36%. Calculate the approximate dollar change in price using duration. Round your answer to 2 decimal places.

Posted Date: Jul 11, 2024 08:09 AM

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