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A bond has a duration of 7.5 years. Its current market price is $1020. Interest rates in the market are 2 percent today. It has

A bond has a duration of 7.5 years. Its current market price is $1020. Interest rates in the market are 2 percent today. It has been forecasted that interest rates will rise to 3 percent over the next couple of weeks. How will the bonds price change in percentage terms?

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