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A bond has a Macaulay's duration of 6.80 years. Current interest rates are 5.94%. If rates fall by 0.93%, according to duration what will be

A bond has a Macaulay's duration of 6.80 years. Current interest rates are 5.94%. If rates fall by 0.93%, according to duration what will be the approximate percentage change in the bond's price? Assume annual compounding

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