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A 6-year 8% coupon bond has a yield of 9%. Using annual compounding, what would the duration of the bond equal? If interest rates were

A 6-year 8% coupon bond has a yield of 9%. Using annual compounding, what would the duration of the bond equal?

If interest rates were to decrease by 30 basis points, what percentage change in price would you expect for the bond?

Find the new price

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